Best of both worlds... 12v
Right now i would guestimate im around 200whp, and "satisfied" with it, for what it is. Big problem is fueling, take a look around and you will find that is a nut were currently cracking, tough nut though it is.
Easy stuff. Get a turbo pump, or turbo cal. max fuel on it. Set of stage 1 injectors, studs, wastegate to 15-20, 7.3 intercooler.
Not as easy: cam, different turbo, more expensive IP, mill pistons
Look up RacinNdrummin's and NMB2's builds and decide what you want to do.