I find kartman2 so confusing. I thought he was going for a minimal rebuild on the engine and in about a year, put on a CARB legal turbo. And keep in mind, this car is being built as a FIRST car for a 16 year old who doesn't even have his license yet.
Doug, who is this mechanic of yours? Is he experienced in performance engine builds? If so, I'm surprised that you don't just go with his advice totally. For some reason, I see this project of yours wavering a lot in its course. There is never any clear direction or goal.