Hey Sebring77,
Good luck and let me know how you make out. I've also been doing some research and trying to piece together a low boost turbo for my stock '81 SC. I'm far from knowing anything about this stuff but Here's what I've found so far from the information I’ve gathered...
Go out and get a book called Maximum Boost by Corky Bell . Apparently this is one of the better books on understanding Turbo Charged Cars. Amazon.com has them pretty cheap. I just ordered mine.
From reading, it looks like space is one of the challenges. Draining the oil that cools the turbo is tough and proper location and alignment of the turbo can be tricky.
I'm not sure but I think those two chromed looking pipes are for the air intake to the turbo and the charge from the turbo into the intake of the engine. It looks like the turbo gets it's air from the stock air intake (the big black ugly thing). I think if you go with Tony's EFI kit, you can get rid of all this and tap strait into the intake.
There's all kinds of other stuff... waist gate, blow off valve, fuel pressure, you may need to change your injectors for more fuel flow as well as the fuel pump. And from what I'm reading, it's a whole other ball game if you want more then 5-7 psi of boost. Then you’re looking intercoolers and all kinds of other stuff.
It looks like Tony is working on a kit. Here's the thread
http://forums.pelicanparts.com/showthread.php?threadid=155247&highlight=turbo+3.0+efi
They also talk about turbo maps and selection which completely confuses the hell out of me.
Let me know how things work out.
Cheers!
Shayne