Thoughts on CT27 Turbo - Keep? Or Upgrade?

So, I've been kinda of pondering at something since even before I bought my All-trac(ST185). I knew it had a CT27 on it, but had nothing done to accommodate the increased boost. Everything is stock. So, while it spools up with vigor I end up smashing right into the fuel cut. I know to fix this I need an FCD, or some other form of ECU tuning or independent fuel management. But before I dive into that, what I want opinions on is if I should even KEEP the CT27 and work around it. Or if my money would be better invested in going with a newer, probably better performing turbo. Admittedly I know very, very little about working with turbo cars, so I going into all of this as green as can be.

And in either case, once I figure out if should keep the CT27 or go with something else, where should I go from there? Full 3in exhaust? Cams? Simplified intake system(I'm fairly skeptical of the overall value of the recirculating system vs its weight and rotting plastics). Intake manifold? Fuel injectors and pump?

I suppose I should list my power goals. Ultimately I'd be perfectly happy with power over the 300whp mark. If that's possible, or reasonable on a stock bottom end? I have no idea. Much less how the rest of the drivetrain would handle it.

300HP is certainly doable, but bear in mind once you wander past the limits of the stock ECU you're getting into quite expensive territory. A good standalone is pricey, and then you need a good tuner spending time on the dyno to have it function. As for how well the rest of the car will handle it, that depends on the condition the parts are in.

http://www.mrcontrols.com/primers/power.htm A bit old but still relevant to your situation.