aha. since this was for an an aviation application, I initially wasn't sure why you were worried about lag. but since it's for an acro, it's obvious. in this case, I think supercharging would be the safer bet, as a turbo small enough to not have any noticeable lag would probably not have the power you need (unless you went with a twin-turbo setup)
reminds me of the time I worked on converting a Subaru SVX block for aviation conversion...
and oh yeah, Continental all the way!