This is great! For the people who are saying that the engine blows up, there is a mod that allows you to turn off engine damage (and a bunch more) so the car becomes indestructible. Use that mod instead of wanting a stronger block.
The idea is good but the transmission is very bad for this. Also as you mentioned, the boost revs up very slow, and doesn't really go that high, only like 200-250psi. (I have an indestructible engine mod, probably won't work without one)