If it was me, I would get an SPFI block, NA MPFI heads, keep the fuel injection, toss the turbo and run an NA motor with a nice torque ground cam.
I've been considering this plan for getting my turbowagon back in shape. I would like to have a killer turbo subaru but I have to admit I wouldn't mind eliminating the headache factor that a turbo can introduce.
I'd like some opinions/estimations about what kind of power output one could expect from such a motor: SPFI shortblock, MPFI heads, torquey cams, nice big Y-pipe and 2.5" exhaust, and spider intake. What sort of HP range would my wagon be in with that setup?