If this were my car I would approach it this way:
- Stock turbo
- Stock converter
- Bigger fuel pump (single, in tank)
- Bigger injectors (60#?)
- Adjustable FP regulator
- Alcohol injection (Alky Control)
- Turbo Tweak chip for the above combo
- Target tune to the most boost with no knock (maybe 22psi max with the stock turbo)
Later on down the road as money allows, replace the turbo with a TE-44 or TA-49 (stock appearing) and a re-stalled D5 converter if you are not happy with the performance of the stock turbo on Alky. I would have stuck with the stock cam as it would be fine way past the power level you are looking at.
One of the most fun setups I have had on a TR is a stock un-opened motor, TA-49, Blue Top Injectors (36#), Redstripe converter (restalled D5) and all the other basic stuff (Pump, Regulator, Cold Air Intake, etc).