Larger nozzled injectors will allow you to run less timing to get the same amount of fuel in proper window vs a smaller nozzle lower pressure and better CP curve. Tuning is ALWAYS key.
You know for the cost of that 38R you could pick up a good fairly low mileage 7.3 with forged rods.
These engines are so easy to find and cheap etc if a person has real performance expectations I would just get the correct base to start with before putting time and money into something with a weak base. Now if ALL you are ever going to want in a 400HP engine OK but so few are ever happy with that for long.
Personally I would only chip exhaust intake the PMR. Then pick up a good used 7.3. Put it on a stand and install all the upgrades you will need. Studs, Springs, Injectors, HPOP Then install it. Then add the turbo as you can afford it.
You can then have a rock solid safe 475-500HP engine you can rely on.