I totally agree
you can add some steelbraided lines for the oil line to the turbo.
you dont need to upgrade the ignition. The ignition timing boost retard is a unit that retards the ignition timing per lb of boost, will work well with the Vafc hack.
If you would like a FMIC(Front mount Intercooler) I would recommend the starion/conquest unit. Alot easier to find unless the dodge unit is avail. Volvo also made a FMIC on one of their cars, not sure which.
If your friend is going to weld all the piping that is great, but for those who cant afford or access a welder. You can buy thick rubber pipe fittings at home depot that can connect the piping
Fuel pump is insurance, but at the age of our cars its almost neccesary.