In My Opinon:

I believe they are refering to quarter mile times (1/4).

It will be hard to spend less money than he spent on that spoon to beat his motor. You would probably have to throw about the same price in internal parts that he did to beat his motor. Put it this way, both motors factory stock, the b20 vtec will win. When one has more mods than the other, he has the advantage. Therefore, you would probably have to put the same amount of money in the motor (internals or turbo or nitrous, etc). Also, he has massive weight reduction and that helps quite a bit.

your last question, it would be hard to estimate that unless you have the sohc motor's hp stock. If its like 125, you would probably see no more than 150-160hp out of a turboed stock sohc vtec motor. The reason being that you would have a low boost count because of no internal mods (forged pistons, etc.). If you had internal mods, you could crank that boost up and increase horsepower by I would say 40%.

Just my opinon