You can use the current block that you have, but not the pistons. You'll definitely need the forged versions. Make sure they are dished so that the compression is lowered. The n/a head might give it some extra compression, which you definitely don't want with a turbo.
The turbo block is basically the same as the n/a block. The only differences being outlets for oil (for the turbo), and forged pistons. The head is basically the same too, just a slightly different cam, and maybe slightly bigger combustion chambers (dunno for sure). You can use your stock block. All you'll need to do is tap the oil pan so that the turbo can get oil, and upgrade the pistons to a stronger forged version.
I've read many articles about which is the best turbo to go with on a 2.3. The most efficient one you can get is a T03/T04 50 trim .63a/r turbine. You can definitely make up to ~400hp with this turbo. However, the biggest restriction on the 2.3 engine is the cylinder head. the poorly designed D-ports really restrict air flow, and the valves are also restricted by a "lip" in the combustion chamber. You could port the crap out of these heads yourself if you want, but I would recommend Powerheads (
http://www.powerheads.com/23turbo.html) because they do CNC porting of the head, as well as offer valvetrain upgrades. If you want to go the ultra-costly route, check out Esslinger Racing's D-port aluminum head (
http://www.esslingeracing.com/dport/dport turbo app.htm). Be prepared to shell out $1500 for just the bare head. Of course, you'll see massive HP gains, even when compared to the fully ported stock iron head, not to mention a 30lb weight drop.
375hp and 12's should easily be attanable if you are willing to spend some $$$. To get there safely, I would start off by getting stronger connecting rods, and possibly a stronger crank (Esslinger again). Next, find the big-valve version of the iron head, and port the crap out of it. Get a cam that supports higher revs (like, say 6500-7000rpm); this engine loves the revs when built correctly, and this is something I also want to do when budget allows. Moving on, you'll need to upgrade your exhaust manifold. There are several excellent home-made products out there. Rod (on
http://www.turboford.org), 40bob (
http://www.40bob.com/), and Stinger (
http://projecthp.ford23.com) all make excellent products, with dyno results to back them up. Rod's header made 20rwhp more on a nearly stock SVO engine, for instance. You'll also need a full 3" exhaust from the turbo elbow outlet back. Ignition would be a good upgrade to have, but I don't think it's absolutely required. Also, I would recommend checking out an engine managment upgrade as well. The SDS Speed Density system plugs right in to the stock harness, and will allow all kinds of great tweaks to all aspects of the engine. The only drawback? It's $1100. Lastly, I would look into getting the intake manifold ported, or even gutted. That way, lots of extra airflow. Plus, it'll allow you to get a much needed 65mm throttle body.
With all that stuff named, I can see getting to ~350rwhp with some tuning, and playing around. Don't forget, you'll also have to upgrade your fuel system, and you'll need some extra parts for controlling the turbo (blow off valve, boost controller, external wastegate if required, intercooler, ducting). You'll definitely want to upgrade the
suspension, the brakes...oh yeah, the rear end might be too weak in the long run, as well as the stock T5. Before you know it, you'd have dumped a good $5000+ into this setup, but of course this thing will fly, get good gas mileage, and whoop on un-suspecting V8's.
The stock engine won't handle nitrous for too long. Of course, mr_woodster might argue otherwise
. I think he was running a 100shot on it for a while, and it never blew up.
I haven't gotten my engine swap even started yet, because I haven't had the time, the money, or the motivation. I'm just so damn tired all the time from work. BUT, once I get out of this rut, i'll try to jump on getting the swap done . I'm hoping for about 220rwhp or so, once tuning and such is completed.