There was a 22RET in 87-89 years IIRC. I seem to recall that the stock 22RE was rated @ 115hp or so, and the turbo was 150. Came with a tiny turbo (T25???), but a friend of mine put a bigger T3/T4 turbo on his, ported the head and installed an IC and he now tows his 510 race car with it. I don't remember what engine management system he's running, but I do recall that he did have some trouble getting enough fuel to it at first.
He did it for a tow vehicle, but I don't see why you couldn't use the same engine and mods for speed in a 2wd truck. BTW if you do go that way I've got some tricks to get the back end to hook up... my Toy truck was the first vehicle I autoxed