Agreed, except I would expect more like 500 hours! There won't be turbo kit available for this engine so there will be a lot of headscratching, experimenting and fabricating.
Unless you are in love with this car and forsake all others, look for a better car to spend what would be a lot of money.
As I have said many times on here, the best way to improve the performance of a small engine is with a small nitrous kit. Adding 25bhp will make a big difference and most engines are capable of handling this increase without modification. Advantages are that you have the fuel efficiency of the standard engine with the added performane when required.
Don't compare 25bhp achieved by conventional tuning with that privided by nitrous. Conventional tuning (cams, head work, intake and exhaust) will provide most of the extra power at the top of the rev range. Nitrous will give you the whole 25bhp immediately and all through the rev range once activated (usually at a minimum of around 3000rpm), so it will feel like a lot more than 25. A car with 25 bhp of nitrous will thrash a similar car with the same increase achieved by conventional tuning.
Another advantage of nitrous is that you can remove it when selling the car and reuse a lot of it on your next project
And no, nitrous doesn't destroy engines, badly installed systems and being greedy with the power does, the same as conventional tuning.