Well, Ive seen 5sfe turbo builds make over 220whp on a stock engine (low mileage) but the powerband sucks, you can really see how the stock cams let the enigne down past 4k rpm.
What I would do is turbo the stock engine and keep it conservative so nothing breaks, then start building up a spare engine like I said and then get some cams for it, forged 8:1 pistons and rods + headwork + cams + Megasquirt is not an expensive build and you can get more power out of it than you will be able to put to the ground.
Traction will be a major problem, if you have the money consider going with a built automatic from importperformancetrans.com (IPT) they can set you up with a lsd and a reliable transmission and you will be able to give awd cars a damn good race, but its very expensive, more than the engine will cost to build. Plus on the auto is once its built, youll never have to worry about a cluch going out or crunching a gear.
Thats only if you are really looking at like 400+ ho out of the car. Its very doable but remember, its still a wrong wheel drive Celica
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Originally Posted by Tony the Tiger
I mod my Camry because I am too cheap to go out and buy a real sports car 
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1992 Camry XLE v6: p&p + 3angle, CAI, y pipe, K-Sport coilovers, 5-speed swap
1996 Eagle Talon TSI AWD: IPT 3700 restall, DSMlink v3, HKS exhaust, ETS street fmic kit