The rational thought of moving to a V8 is somewhat true. You have a better starting point engine wise, but for whatever reason is unrealistic for most guys on this form. Could be insurance, gas, parents, money or maybe a combination of those things. Regardless, you already made the decision you did and frankly WGAF? Spend your money how you want and make the car your own.
The turbo route will be a solid one and would make some wicked power. I'm looking forward to your build thread.