NA supra transformation project

[yota_head]

I have an 88 supra, automatic with a 7mge. I would like to end up with about 400 rwhp, obviously gonna need to turbocharge it to do that.
Has anyone here tried megasquirt2 on their supra? I know a guy who is doing megasquirt on his skyline locally so he can help me with the unit, but he doesnt know supras too well, and being a nissan guy doesnt really want to. Will megasquirt work with my 7mge distributor? I would like to use my distributor, and possibly upgrade my ignitor, or is this simply not going to work with MS and my horsepower goals.
Most parts I am going to get from ebay including:
-2.5" hard pipe kit
-24x12x3 intercooler
-full 3" exhaust(i will make the exhaust)
what turbo will give me an easy 400rwhp but will give me some room to grow one day? I want a fast spooling turbo.
I had also previously thought of using my stock ECU, but methanl/water injection to control timing and detonation. Any input?
Thanks
mike