Why 150 or better? You can take a stone stock engine and add bolt ons and add a good bit, you know that. Good intake, carburetor, headers and distributor you can adjust mechanical advance on. Come on man, he's not building something to go racing here. He may not have the budget to do what you're talkin about. I haven't read every post, so maybe he does, but I try to approach it like someone is on a budget until they say otherwise.
I completely do agree with you though that if his budget allows he should get cylinder pressure up there. Does he have to? Not in my opinion.
And where did I learn that rule? Trial and error doin stupid **** as a kid.