I'm late to the party but what you propose is a valid path. I'm an engineer with Whipple Superchargers (and an FE guy) and we sell that formula all the time. Take a stock engine, add a supercharger of about half the engine displacement, run 8 psi or so boost, and you'll see about 1.5 the stock HP output. The key is the intercooler and proper tuning. Keep it cool, don't over rev it and you're engine will last as long as stock. Just my $.02.