... You'd also need a custom downpipe for that setup. Figure an easy $200 - $300 there as well. And custom oil lines. And custom intake pipes. And some custom hardware for the fuel system including a new pump.
Consider the Bell Engineering BEGI-S kit as an alternative: http://www.bellengineering.net/Pages...ems_BEGiS.html
It's $2100 for the complete kit. That's about the same price you'd pay for the Greddy (if not cheaper) after you factor in all the custom bits you'd need, but for that money you get the best manifold in the business, a good downpipe, a much higher-quality turbo (not bigger, just more efficient, water-cooled and with ball-bearings), a much
higher-quality fuel regulator, all the little nuts and bolts, oil lines that actually fit your engine, pretty much everything about it is superior.
Your cheapest timing solution for an '01 is FM's adjustable timing wheel: http://flyinmiata.com/index.php?dept...umber=07-91000
A "better" solution would be a piggyback ignition controller, though sadly the more common ones like Bipes don't work on the NBs. (Forget the MSD box- it was a piece of **** when it was new, and that was 10 years ago. Also, it doesn't work on the NB either.) The cheapest decent-quality ignition piggyback I can think of for the NB is the Greddy eManage (blue).
edit: ... and no, 5 PSI will not blow up an '01 engine IF
the fuel is properly taken care of.
Oh, and for perspective, all of this is coming from a Greddy owner. The Greddy kit isn't bad, it's just that the Bell kit is sooooo much better.