I agree, probably gonna need a little more duration but that 220-240 mark is where you want to be.
now he said something about a turbo, i use to build alot of forced induction engines, you can definatly pull off low 12's, probably more like 11's with the proper forced induction set up with a intercooler and still get the gas milage your looking for. supercharger store sells bolt on procharger kits, it'll cost you a little bit but it might be the best route.