Building an Ls1. Ive got questions.

I had a 5.3 that ive blown up twice now. Im not rebuilding it again. The motor blew up from cavitation from road coarse racing. Ive got an Ls1 from my dad. Ill be doing forged rods and pistons, ARP hardware, a cam (haven't decided on one yet), 243 heads, Ive got a pro flo intake with a 90mm throttle body, 60# injectors with supporting fuel system to run e85, and finally a 76mm turbo with a smaller a/r to spool faster for autocross. If I ran 7-8 PSI is 550ish whp safely out of the question? Also is there any cam recommendations? I have a Lunati 228/228 .565/.565 112 in the garage I got from a friend would that work or would it leak boost to much? Any help, advice, or direction is greatly appreciated.

http://i295.photobucket.com/albums/m...psf8dras0q.jpg
Here's a pic of the truck for fun.