There are a few things...
TFS has a new short runner intake out, I'd look at it instead of the RPM II. From what I've heard it's pretty bad ass.
http://www.corral.net/articles/TrickFlow
I'd ditch the 1.7's in favor of a set of 1.6's. Less stress on the vavle train.
For a cam I would suggest a custom grind by Ed Curtis. Just tell him what you have and what you want to do with the car and it'll be spot on for max power and streetabilty with your combo.
I'd look at the injectors. 42's would probably be safe for 12lbs of boost, but I'd suggest going up to a set of 55's
I think this could be kept a street car as long has you don't get too wild with duration on the cam and you have a killer cooling system (high flow water pump, 3-core aluminum radiator, Mark VIII eletric fan, etc)
-Josh, aka the tireburner