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I always see the ads for the big head wastegate and have wondered what a wastegate does, and what effect going to a bigger/aftermarket wastegate does for performance?
The wastegate allows extra exhaust gases to pass by, without forcing them through the turbo (prevents "overboost" if you will). This will allow boost to be more stable, etc. I don't believe going to a bigger wastegate without changing the entire turbo (if you can just replace that piece) would result in better performance. wikipedia wastegate to learn how they work.