at least you have a shop to work out of... using the AEM you'll need a all new gauges as the stock ones require the ECU to drive them (they're dumb gauges, no controls in it, all controlled by the ECU)...

the engine can handle 300 hp easily... going any higher i would begin to worry cause it has aluminum pistons, very easy to damage with a bad tune, you won't even hear the ping...

you can get a stock rod and piston and send it out to JE or a similar company and have them make some nice strong forged components for the engine...

its not impossible... it is something you should only do if you have more time than money... with you working at a shop, i see you may have alot more time to work on your car than most so it may be a good way to go for you...