For 1000hp, yes, 7-10 psi really isn't that big of a deal. My 4.6 in my '09 GT can make over 460 on 5 psi. Thats COMPLETELY stock at 281ci.
Of course to make 2000+ it's much higher, typically anywhere from 17-23. They have even pretty much eliminated turbo lag with the newer designs. Check out Nelson Racing Engines or Steve Morrison Racing Engines and you'll see what I mean. Great street manners, pump gas and a fairly mild idle all while making 2000 ft.lbs. of torque and 2500hp and above.
It's crazy.