Nah, this turbo isn't pumping out that much power. It's running rich. Exhaust poping, black smoke, fuel consumption. I would be lucky to to putting out 220-240 hp.
I would love to go megasquirt but I done like wiring and don't really want to leave my car in someone else's hands for god knows how long. I've read some about adjusting the AFM to adjust the air fuel ratio, might have to get on that.
Edit: reference here http://www.atlanticz.ca/zclub/techtips/afm/index.html