There has totally been some very successful turbo setups done on the z. but you need to make sure you do it right

If it's on stock internals and i recall right most members are running like 4-5psi tops on them.
Remember, your weakest area on the car is going to be the transmission on the zx2... so you can build an awesome motor, go turbo, but that tranny will be toast if you don't do everything right
