awesome stuff...
the difference between 175 and 200 is pretty huge... longer rods, insane redline, intake and exhaust system tuned to a very fine peaky power band, loads and loads of head work.
having said that, 175 is going to be alot of work still. It'll probably be vastly easier to live with than a 200hp monster though.
Suggest you still look at a custom exhaust manifold (tuned 4-1 headers with a merge collector.....), some sort of work on the intake manifold and look at some nice strong forged rods, and head for a 7500rpm. If you go for a redline like that, i'd suggest a 2.5in exhaust system to assist in high RPM breathability. from memory, 2.25 is good for about 200 hp @ the crank as a rule of thumb, at that point it starts to become a major restriction. Twilightprotege runs a 2.5in system and iirc he's up around 150hp, his car doesn't feel lathargic in the slightest, picks up really well and sings in the upper mid range/top end.
Good to see ANOTHER tough NA car being built though
with the right tire combination, and a bit of practice, you should nail low 14s, or maybe even give high 13s a nudge
Good luck....
p.s. did you want me to link your project in the race thread? i know you've said you're not trying for the mark, but if you would like your build in the index i can certainly add it - might give some of the other guys some inspiration too