The hot air is why I'm contemplating adding a small shot of nitrous, around 35-50. On supercharged engines that HP gain is exponential because of the heat reduction, it could be more like 50-75 due to nitrous being a cryogenic gas. You are right about the nose cones, there's a better seal you can get from Rolling Performance that holds up nicely. I had to do that about 3 months after replacing my nose cone with the 2.1" pulley.
The supercharger definitely has it's limits but the trade-off is CARB approval (12 states have adopted CARB standards now!!!) and ease of installation. Of course though, if you can install a turbo setup and pass any emissions restrictions then the sky is the limit for power. More boost, more fuel, and more importantly more CFM's and less heat, to some extent. Still get heat transfer from the exhaust gases though. 400 RWHP becomes a possibility, depending on how crazy you want the boost levels. The biggest hurdles I have to adding more boost and power with the supercharger is CFM's, the darn thing just doesn't flow enough air through the intake side.
You are right about the intake post-boost does not need as much flow as an N/A engine. Air compressed by a supercharger will take up roughly 1/2 the volume of the uncompressed air coming into the supercharger. Turbos might be different though, not sure. However there's enough data from other parts to show there's still power to be gained. The camshafts that I had in that just increase intake lift (allowing more time for the combustion chambers to fill) were dyno'd at a 22HP gain. That was above 5000 RPM though.
I appreciate your insight and willingness to explore new things. It's people like you who think outside of the box that make this forum a valuable source for information. I'm still learning about these engine and their capability, and so far I'm impressed on how well the 5VZ-FE takes boost & performance upgrades.