Nick
Congratulations on going with a 7MGTE. They're a great motor but have a shocking reputation for some obvious flaws. Had those issues not existed they could well have been the first "2JZ" as they're a solid unit. One thing I will say though, is are you sure you want 500rwhp? That's a massive amount of power... I'm talking driving along at 100mph (160km/h), stepping on the throttle and having the car break into wheelspin. In my opinion a genuine 400rwhp is more than enough and a lot faster than most people think. Certainly as fast as you can use in the real world anyway. I know you're talking about a drift car, however a lower total amount of power spread across the rev range more appropriately, will be much better for drifting.
So anyway, what you'll need.
Fuel System
A good rule of thumb is 5cc per hp, store that one away in your memory bank as it's infinitely helpful. So, 550cc x 6 injectors = 3300cc total flow.......... and 3300cc total flow / 5cc per hp = 660hp total flow
So, all being equal, those injectors are capable of your desired power level. However, they don't leave much margin for error and I'd be recommending you look at the 750cc injectors for some overhead and honestly if you're buying injectors anyway I would look at getting a set of Injector Dynamics Bosch ID1000s which means you'll never need to touch your injectors again. When you're pushing these power levels, overkill is very important... as they say a chain always breaks at the weakest link so you need everything to be up to scratch.
From there you need to consider moving the fuel. I would suggest an in-tank Walbro fuel pump to fill an external surge tank mounted close by. Someone should be able to clarify the free-flow capabilities of the Walbro but they should be plenty for your needs, with a surge tank capacity of two litres. From there you should run twin Bosch 044 pumps. One can support around your desired power level, but is right on its limit so a second one would be good to reduce load on the pumps. Run the return from the fuel rail back to the surge tank, and the return from the surge tank into the factory fuel tank.
I don't know that the factory fuel pressure regulator will support your desired power level. If not, you need to fit an aftermarket boost-referenced fuel pressure regulator (1:1) that allows larger flow.
Bear in mind that NONE of these things "make" power, they support power.
Electronics/Injection
Sell the Lexus AFM and the 550cc injectors to someone else. They are a neat little upgrade but won't get you anywhere near your desired power level. Put the money toward a full standalone computer system. There are a number of options available... Microtech, Motec, Haltech, Autronic, Adaptronic, and the list goes on. Personally I run a Haltech but in reality they'll all do the job brilliantly. It might be worth speaking to someone else who has a 7MGTE and see what they have and if they had any problems setting it up.
The standard coilpacks are probably up to the task, if not a set of Bosch coilpacks should do the trick. You may want to consider an ignition booster like an MSD, but personally I've never had anything like that and would be surprised if you needed it.
Cooling
Bigger is better. Great big intercooler, radiator and engine oil cooler required, and a good draw-through twin fan setup on the radiator.
The engine
You're on the right track. Honestly, you don't really even need those forged rods but they're nice for "overkill" as I previously mentioned. I'd look at aiming for a static CR of around 8.0:1, give or take a couple of tenths. For this power level, I'd expect that you'll need to run 22-24psi boost on a very large turbocharger, something like a Garrett GT42R would be close to the mark. You'll need a ~45mm external wastegate, an electronic boost controller (note a lot of the standalone ECUs have optional controllers you can add in), a four inch dump and an exhaust of at least 3" but ideally 3.5" to 4" for this power level.
Back to the engine itself, I'd consider larger valves if you can source them, even if not a large set of off-the-shelf cams, something in the order of 10mm & Head modifications will be required to run these cams, and you'll need to make some changes to the lifter setup. The shop doing the cylinder head and/or the camshaft manufacturer should be able to provide further details.
ARP head studs are a must, metal head gasket, etc, and all the common sense engine building stuff like a highflowed oil pump if that's achievable. Make sure your engine builder knows what you're trying to achieve.
Alternatively
A basic setup with the V8 AFM, injectors, a boost controller, a fuel trim like an SAFC or similar, a good exhaust system and a 57mm turbo would make a nice little road-going package and won't require massive investment... and with a manual box and decent clutch & diff it will be great for drifting.
Others can probably shed more light on how to set the car up for drifting, suspension and steering are very important and many would say more than your power output.
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