h/c or s/c
The supercharger will cost more initially, and on 6-8lbs of boost will net you around 400+ to the wheels, however the short block is on borrowed time, even in intercooled form and all other safety options. Total amount spent including tune could cost upwards of 4K.
A good H/C setup, like AI, Eric Bradby/ Joe O setup, or LE2/3 etc would net you 400 or very close for close to or at 400rwhp. This should all cost a little over 2k with a dyno tune. Again, the stock shortblock is the hold up because the more agressive the cam (higher lift/duration) requires bigger ports, which equals more rpm's, and the stock rods/pistons/ main caps are pushing it by 6200 or so.
If is were my car I would throw some eagle rods or similiar in. Get some beefy four bolt splayed main caps, arp rod bolts and some srp, diamond, etc forged pistons to handle the rpms and get as aggressive you want in the heads, cam setup. Then put 150+ shot of gas on it and have a 550-600hp monster on your hands for about the same price total as you would have dumped into the s/c setup on a stock shortblock. That's merely a poor college kid's bang for the buck equation. This is assuming your bores are in good shape, the crank doesn't need to be turned etc. Otherwise include machining costs and assembly of your fresh shortblock. At least then, you will have a reliable, and powerful setup not living on borrowed time (read: forced induction). IMO if you are going to go forced induction, go turbo. You will make more power from what I've read. Either way, be smart about the heart of the motor, and do some research on HC setups instead of just plunking down some cash on a LE1 setup or LT4 conversion and pissing money away. [rant off]

