^^^ Interesting. I don't totally agree with your "turbo shenanigans" description, but I do know what you mean. I DO think it'd cost about the same to make the car 400whp N/A as it would to make it 500whp through FI. BUT, that's because 400 is a HIGH number for a small displacement motor.
Also, I just thought about it, why not bore and stroke? Make the car either a 3.8 or a 3.9 (or if you're crazy, a 4.0) and THEN go for more power. Obviously the 3.8 parts are already around.
I know what you mean about having the power when you want it, but a good turbo setup doesn't have to take forever to spool. In fact, with a lightweight flywheel the turbos spool a bit quicker, and to make the 400-500whp mark, you don't need big turbos, so they'd spool even faster.
Just a thought.
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2002 Corvette Z06 - Totaled
2003 Corvette Z06 50th Anniversary
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