With the low compression ratio, you probably could boost up a 235, if you keep the boost levels down to 5-7 psi, but not over 7 psi. It WOULD have the low end torque to minimize turbo lag, and the turbo adding 100 or so horsepower would be just the shot in the arm that motor needs. I'd like to see someone do that.
The Garrett Airesearch T03 Turbo would be a very good match in fact. I have two of them, and I'm willing to let them go for a good cause (& low price), if there is further interest in this.