well there is the cheap/easy way and there is the expensive/hard way.
There's a couple of proven/documented winner blower kits that are really affordable like the novi 1000, vortech sc/s-trims. I bought my 92 coupe w/ a built 308 that had a TW top end and a SC trim making 13-14psi. The block was split in half w/ a dss main stud girdle. Thats how much power these things are capable of.
If you wanna go the turbo route, I really recommend asking over on turbomustangs.com. Not taking away from BAM's tech section, but you'll get a lot more people replying that are familiar with 5.0Ls and turbos. You might want to look up gtluke over on kkkoral and shoot him a couple PM's. Last time I talked to him he was buying an alum. fms driveshaft off me for his turbo project car.
As far as opinions here... what kinda setup were you thinking? Single/twin? DIY/Kit? You have a welder & experience? IMHO, unless you are at least experienced w/ MIG... better yet TIG... you are better off with a kit. You're gonna be tearing the front end off the car for a turbo setup. If its DIY you'll be scavenging forums/ebay/CL/JY for turbos, wastegates, headers, turbo flanges, BOVs, IC, injectors, fuel pump. You'll be cutting and welding pipe and doing a lot of fab work to get things in place.
Oh... and before you get this idea about having a 450rwhp car... please do me a favor and make sure the *** damn car has sub frame connectors, a spec stage 3 clutch if 5spd, a tremec tko/gforce t5/built-auto, aluminum driveshaft, 31+spine axles, and battle boxes. Heck, you probably should have upgraded brakes on the thing too. There's too many people driving around with motors built to the moon that neglect the rest of the car. They end up with a monster motor'd car that can't go 1000 miles without breaking something. I'm having memories from corral day and a vehicle named "timebomb:
