I think turbocharging the V8 has been discussed here before. The biggest issue I see is the amount of room, or lack of it, in the Z car's engine compartment. The headers or exhaust manifolds are the next biggest challenge and then plumbing after that. Once these things are addressed, changes to the motor itself will need to be done: lower compression pistons, bigger injectors, better fuel pump, reprogrammed ecu, etc. The idea is feasible, it just takes a bit. I'd love to do a turbo'd LT1 in an S30--that would rock.
Davy