Lots of money !
I'm sure you'll get some good advice here lots of crazy fast cars.
That's a good place to start!!!!
He's not asking for crazy hp, but some basic items should be determined first. Is he capable of maintaining and recognizing tuning problems? If not, reliability will present a problem and things like a girdle and all roller would be a better choice. You understand where I'm going w/this?
He will have to first upgrade the fuel system. Hot wire and good pump.
If a forged assembly, like from Mike @fullthrottle or one of the other venders, is affordable, that would be great for the reliability along w/a mild hyd. roller cam assembly. 206/206 or equivalent.
Caps would be a + as well. (keep in mind the limitation of the block is 500-525hp)
You can check w/Bison to spec a turbo or consider the 6262.
A little head and dog house work along w/a 62mm tb. (Can add alchy)
Extended slic.
TT chip and 60's inj.'s unless you're going w/E-85, then at least 80's.
Upgrade trans, and converter.
Again much will depend on his abilities.