ok thats a good budget, this is what i would do:
eagle rods + wiseco 9:1 pistons-800
bearings-100
misc gaskets-100
balance blue print and assembly-800
now you have a built short block ready for about 300+whp on pump gas all day long and about 400+whp on race gas.
total at this stage $2000
then you need a turbo kit, if you wanna keep it cheap i can get a revhard turbo kit for about 2700 complete. it comes with everything you need to boost your car up to about 265whp
* Rev Hard Cast Iron Manifold
* Turbonetics T3/T04E Hybrid Turbo(eff. to 450hp)
* Rev Hard Intercooler (28x6.5x3)
* Tial Wastegate (7 PSI)
* Rev Hard Blow-Off Valve
* 2.25" Mandrel Bent Piping
* 2.5" Downpipe
* Billet Map Diffuser (Check Valve)
* High Volume Fuel Pump
* Silicone Hoses and Clamps
* Steel Braided -3 Oil Line
* Oil Return Line
* High Pressure Fuel Line
* High Pressure Silicone Hoses
* Necessary Vacuum Lines
* Vortech FMU
* Necessary Vacuum Tee's
total at this stage $5700
if you want more power, you upgrade your injectors remove the FMU and map diffuser that comes with the kit, get some sort of EMS (like a chipped p28 with crome or hondata) and a dynotune and you'll make over 300+whp no problem and 400+ on race gas...
now your at
sell map diffuser and FMU +$100
RC 750cc injectors-400
chipped p28 with crome-200
dyno tuning-200
total at this stage $6600
now you have a built shortblock and a good turbo kit which still leaves you room to buy a clutch/gauges/exhaust/etc... and still stay under 8k.
this way you dont blow all your money in 1 shot, and you get to enjoy your car as it gets progressively faster. like i said before if you have exra cash, its always nice to upgrade to a ballbearing turbo.
hope this helps out, sorry if its kinda confusing.