Personally I would not turbo a carbed car. when you build boost based on engine load its way too variable vs engine speed (with supercharger)which is a more predictable. the jetting in a carb means you are locked into a tune, if you are going to the drag strip only (which it appears yo are not) a carb could work in a competition setting, but for the street its not a good idea. If you want forced induction you want to look into a fuel injected motor (i was going to put if you want FI you need an FI motor.... but that is confusing [8D]).
other than that, dont outshoot yourself on your goals. a 7 second car is hard enough to put together at a track. that is pro stock territory. just did a quick search, and (even tho this article is old and someone might yell at me for it) your car would be NHRA super stock and a few years back their record was 7.98 at a drag strip.
http://findarticles.com/p/articles/m...06/ai_n9237275 just did a quick glance, so if i missed something my bad.
but anyway, not saying a 7 second street car isnt possible, but very difficult especially with the money you are talking and throwing in the reliability factor. you wont keep things "simple and reliable" at this level.
however, with the cash you are talking you could have a car that runs low 10s and does it as if it didnt break a sweat. bullit proof everything, brand new parts. and you would wax 99% of anything you would run into on the street.