I'm going to approach this backwards
#21
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I'm probably only looking to hit around 180hp, as I'm mostly looking for a 5-6 second 0-60 time. That's fast enough to be fun, and from what it looks like reasonably reliable and reachable with $3000-4000 in turbo kit and other mods. A clutch, exhaust and probably the FM II looks like it will get me there.
#23
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The funny thing about turbo Miatas is that once you've made 180whp you've made 250...
Unless you're barely there all on bandaids.
Proper engine management with some headroom on injectors and such will allow you to enjoy wastegate for a while, and then gradually bump it up as you please.
Boost is addictive...and you're kidding yourself if you think you'll be content with some arbitrary goal. Leave headroom and be happy, because once that bug bites it keeps sucking, and the only remedy is a twist of the MBC.
#24
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Find a good deal on a mazdaspeed and be done. You can pic them up for not much more than a normal miata so long as you are ok with some miles on it. They can hit 170-190hp to the wheels with little investment. Intake, Intercooler, BOV, boost controller, new intake elbow and DONE. That might be $500 if you are careful about parts selection.
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