in regards to you saying "I figure i will surely blow the stock motor trying to puch that much power out of it." That is not necessarily true. I'm not trying to talk you out of rebuilding the motor but I thought I'd let you know that a few guys I know have dyno'd 550 on stock internals with all the basic bolt ons's Hks gt2530's (comparable turbos to the pe1420's) and dyno tunning. Efficient intercoolers, Larger injectors auqua mist and common sense while driving will help with longetivity. Granted a rebuilt motor will be able to hit the same numbers at lower boost.
As far as getting in to the 11's. The driver seems to make the biggest difference. Or more specifically learning to launch the Z. MIke just made it into 11's on stock turbos, and tom foreshna did 12.1 on stock turbos. And i've seen a few guys with 550 at the wheels and a lot more $ under the hood run mid to high 12's.