Welcome to the board. There's quite a few things that you can do as mentioned. The Q-jet works fine if you know what you're doing. I'm waiting on another guy that's into the old 301 TTA's and we will be doing a complete overhaul and mod on a Q-jet that will be posted on this and the 301 Garage forum. You can also use the Holley carb with the proper mods done to it for boosted application. I'd also suggest that you do some reading over at
BEFORE BLACK Website. Rich's site is full of info that should help you figure out how things work. He also has a DIY alky injection set up that works so you can save some time looking one up.
Our cars are called hot air because there's no way to add and intercooler to them. The air fuel mixture is before the turbo so if you try and cool it down you end up with fuel drop out issues which can make a big bang if you're not careful. You can use alky or a mixture of E-85 and super unleaded to reduce the detonations issues though. You can't use more than a 30% mixture though. Figure 4 gallons of E-85 to 10 gallons of 93 octane. If you want to use straight E-85 then you have to use a modified holley made for alky.
One other thing you might want to invest in is some of the MSD stuff. A 6A ignition box and a BTM unit can keep you out of trouble and give you better ignition. You can also get an audible knock detector which tells you if you have any detonation problems. This can keep you from blowing a head gasket as fast, but won't prevent it 100%.