How big is the motor you're plucking the turbo from? Also You should mount the turbo high, especialy above the oil level in the oil pan or it won't drain right. So you will probably plan on fabbing new headers. You can run an oil cooler but never after the turbo. Sounds like a great project and something I want to hear the out come of. You have some homework ahead of you but but it sounds way cool. 5psi is about 30% more power. You will also pick up more mid and low range because boost is based on engine load. Plan on spending money in a few places, fuel pump, injectors, computor etc.