Opinions on turbo build

Hello everyone, I am trying to put together a plan for a budget turbo build, and I would like some input. What I am starting with is a free Vortec 350, the engine runs fine and the heads were machined to run up to 550 lift. They are 906 casting vortecs. Where it gets interesting is since the guy owed me a little money he is throwing in a set of single turbo headers for passenger side mount. He said he got them here...

http://xs-power.com/gm-turbo-manifolds-3.htm

He is also giving me a holley 650 that is set up for blow through and a brand new Turbonetics t4 turbo.

Now is where I need some help... I am planning on keeping boost levels under 10 psi. Will I be able to get away with running a set of Probe forged 8.5 pistons? Will the stock PM rods and cast crank hold up? This is just going to be a street car with very little track time, and it wont see the better side of 5000rpms too much. Next question is... Since it is a carb application can I get away with no intercooler for these low boost levels? Any advice on cam choice? Will my rpm air gap intake be a good match for a turbo setup? The last things are fuel and spark timing... I am currently running a mechanical fuel pump. Will an electric pump with a boost referenced regulator be necessary? Will a timing retard box be necessary?

Thanks for any input,

Rob