If you have access to racing fuel, and want this thing to be a trailer queen, spend some cash on having your block/head honed and decked, sleeve it, bore the block from a 1.8 to a 1.9 - 2.0, port match everything, and throw a GT30R or something on it. Get that thing screaming. I would suggest running a fuel cell, and spending a lot of money/time on your fuel filter and fuel lines (go with an inline fuel filter).
Now if you want it streetable, your build is suitable. Run the highest octane pump gas you can get, ensure you have a nice fuel pump (Walbro!), and you could go with (as boodshot said) a huge number of turbos. If you don't want to break the bank, run a T3/T4 hybrid. They're easy to find, you can get it externally or internally gated, and a large number of manufacturers make them with a lot of options (4 bolt, 5 bolt, anti-lag venting etc.).