Stop thinking, start doing.

M52's respond very well to boost, but you'll want to freshen up the head (thicker gasket, heavier springs, HEAD STUDS!!!) if you decide to go over 7 or 8 psi. Just like the M20 engines, the head gaskets seem to be the weak link on the M52.

Reprogramming or standalone fuel/ignition management (read: dyno time) and significantly larger injectors will be a requirement no matter what.... so remember to factor that into your projected costs.

EDIT: I just noticed you're in Riverview....lemme know once you get the parts lined up, and I'll give you a hand putting it all together.