Yeah, you do have to be careful due to the compression ratio, but it has been pulled off successfully tons of times, and even better if you toss in some DE pistons. But yeah, you can develop some great hp just from a JWT ECU, a decent header like the hotshot or the OBX knockoff of it, a good catback, and you can get around 190-200 at the wheels, from what I've heard.
In either case, I'd shoot for a different motor that a DET with $1500. You can get a complete turbo kit setup for $1500-2000, that's what my GTi-R setup cost, if you count the fuel pump, AFC, etc. Check out
www.jdmsource.com, they have some good prices.