Travis, it looks like you and I are cast from the same mold. I have asked many of the same questions you are asking. For a discussion related to the use of superchargers, check out this thread (there is even a reply from the owner of the ERA factory stating that his kit has room for a supercharger, but there seems to be more room for turbos):
http://www.gt40s.com/forum/showthread.php?t=17970
For a review of the option of dry sumping, check out this thread:
http://www.gt40s.com/forum/showthread.php?t=18094
Like you, I came to the same conclusion--N/A SBF with a wet sump oiling system. However, not all SBF blocks are the same. It's not difficult to wring 400-450 out of the SBF with a carb, but getting it to hold together is another matter. Some of the more mondo 5.0 builds have had the block literally split into 2 halves. FRPP sells a 302 racing block (the R-302) and of course there are other manufacturers making SBF blocks, like Dart, who makes a good aluminum block. However, one of my GT40 contacts mentioned that Ford switched to the iron block for the supercharged 4.6 modulator motor for good reason--iron blocks seem to be stronger and hold together better with high power levels.
One of the forum members made what I consider a good suggestion--forego the mondo motor build and use the $$ to get a good LSD transaxle. I am going to build my SBF into what is called a "Small port Boss 302"--if you are interested in what that entails, check out this thread:
http://www.gt40s.com/forum/showthread.php?t=18047
Good luck--it looks like you and I are on the same schedule, too. I can't order my kit for a few years, so I'm building the motor right now and hope to have the motor/transaxle ready to drop into the kit once I order it.
The forum has a section dedicated to builds--that doesn't mean just the kits, so I plan on documenting the build as I proceed with the motor. I am waiting to hear back from Dart regarding the oiling system requirments before I spend what amounts to a huge chunk of change for one of their alloy blocks. On the SBF, what is referred to as a "priority oiling system" (prioritizing oil delivery to the main bearings) is, IMHO, more important than the alloy block. If Dart requires an external oil pump to provide the "priority oiling system", then I'll go with FRPP's R-302 or the new, soon to be released Boss 302 block.
Lots of options--enjoy, and don't be afraid to post questions. This forum has the most helpful membership I've found on the net so far!
Doug