weeeeeeelll...
taking a 16.7 1/4 car and adding a turbo would certainly get you into 14's maybe 13's. probly the mods you listed there would get you into low 15's. if not going forced induction think about a cam. some iridium spark plugs... ummm... pulleys... and the biggest hp gainer of all... a padded shoulder belt cover(rated at 400hp).
if you're going for all speed stay with either 15" or 16" rims.
17's are usually too heavy and it takes more force to turn them because of the larger circumference. whatever you do don't get chrome... chrome = weight.
see ya...
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