I own a 96 corvette LT-1 supercharged, it has 10.5:1 compression ratio. I'm pulling close to 9 pounds of boost and it is giving me an estimalted 480 horse. As mentioned above. The supercharging part insnt' a problem, the timing , the fuel and you definaltely need some sort of intercooling once you get above 5 pounds of boost. and a data logging software to check Air fuel ratios...
A quick rule of thumb for rough estimates...
14.7 + boost /14.7
14.7 + 8 /14.7 = 1.54
If you take the 1.54 * 215 horse you would get about 332
6 pounds of boost gives you a 1.40 * 215 = 302 horse. going past 6 pound you would need to go with larger injectors and possibly a new or accessory fuel pump.
If anyone has any other questions feel free to contact me...
my vette site
www.ndneyes.com/mo
Mo