In GENERAL, a single turbo will be more streetable, spool faster, and the intake will be easier to plumb. Twins are generally used on a V motor to ease the cross-plumbing of the exhaust, and perhaps counter-intuitively, spool slower for the same total flow capability. It is possible to get huge amounts of power out of each, but for very high flow rates, two small turbos will be cheaper than a large one.
Either route you choose, you will get into 11's with EASE - I don't know how reliable the stock 5.0 is, but if a L28ET can do it stock, why shouldn't a 5.0 be able to?