If you want good reliable HP, swap in a mild V8. You could do it for less than the donor truck you talking about. And if you do it all yourself you could even have a fresh V8 for less than that.
I have done the V8 swap in the past and it's very easy. You could even find an LT1 that's the same year as your truck and a lot of the wiring will plug up. Do some research on it.
I personally would like to turbo my current 97' 2.2l S-10, but the simple truth is that there isn't any real "kits" out there yet and most of the turbo 2.2's are turning out to be VERY unreliable. Even if you reasearch it and build your own turbo system you'll be looking at around only 200hp unless you really put some money into the motor and turbo setup.
I understand a lot of people want to be different than the typical "fast" S-10, but unfortunately a turbo 2.2 is not a reliable setup right now since there is almost no backing for it. You can spend $3000 on a turbo, get 200hp, and be different; or you can spend that on a V8, get twice the HP, get as much as 30 mpg, and be very reliable.
Just depends on what your priorities are for the truck.