Welcome to the group!
Destroking and shooting for a higher revving engine isn't a bad idea, but there's a lot more involved than you may be thinking. These blocks can't be overbored by that much, you'll need to do considerable work to the valve train (larger valves, shim under buckets and preferably a custom cam profile). Then add a full stand alone engine management system... the stock ECU doesn't reliable mod to support higher RPMs, and quite plainly doesn't have the maps for it.
So, while it's not a bad idea, in the end it'll probably cost you more than adding a turbo and fuel controller.
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