Great write up.
Most of my friends and my self included shoot for the 400-500 whp range. (I'll be there this month with 13Ts.

) All of our friends with more than 500 on tap either have barley over 500, or it is on their track only car.
One friend has a whipple Cobra with over 600 whp. He still regrets it. Yes the car is insane, but as his daily the car just isn't usable anymore. He has two choices, buy awesome rubber than allows the car to perform but wears faster than a college kid can afford, or go with longer last tires that whenever he steps on it will just spin.
Cars are a great hobby, but it is always best to have a mapped out plan first, not to mention never to cheap out on somthing. It will always cost more in the end.
-John