Compensating for a 340 shouldn't be a big problem.
You can use an AFPR,change the chip,or play with the TPS a little.
Add a cold air kit or an aftermarket exhaust and you'll need the pump anyway.
Be careful of the 242 as a primary pump in your system Red.
I had one 5 years ago from ATR[their "super pump" at the time],and within 6 months of install,the thing "calfed out".
The thing sounded like it was screaming outside the tank.
Literally.
You should have heard it.
I installed an OPS 307 and all was fine.
Ran great for 3 years until my 340 upgrade.
IMO,the 242 is just not a very sturdy pump.
A 307,if you don't want a 340 or will never push that hard[street only,lower boost] is a good choice.
However,if you *think maybe* in the future you might push things,then get a 340 and work with it.
It's not as tough as it sounds and it's nice to know it's there.