Quick update: 1st start-up happened today. I let it run at idle for a bit to check for oil leaks or anything else that might look or sound bad.
The only exciting thing that happened was smoke began pouring out from somewhere. At first I feared: Oh no, I just burned the turbo up due to oil starvation! Did I hook everything up right??
Shutdown engine...
After I shut the motor down and inspected, I could see smoke coming from the turbo exhaust. Could it be burning off new machining oil? (It's a new Garrett 30R). I fired it back up and within 30 seconds the smoke stopped and all seemed well. The turbine wheel still spun freely afterwards so it looks I didn't sieze anything!
I'll be back to rewind and post a better update with better pics plus video links.
The only thing left is all the boost/vacuum hose connections, purchase a zork tube and install O2 sensor and wait for the turbo mount and wastegate dump pipe to show up.
...And of course tuning the Megasquirt system for a boost set-up.