Frustration, need some advice.

[whitelightning]

Ok people, I'm finding I'm thinking too much again and I'm starting to hurt my head. I have a close to stock 96 stang with 190,000 miles on her. I live in southern California so I have to stay with an emissions guideline, I need a fresh motor. I know mine is tired. I want a reliable, enjoyable mustang with some good power to mash on the streets with when I'm home. I don't know much about building engine and having a job that consumes my life I can't educate myself too much on it except for reading. This sucks cuz I am a hands on type of guy.
Here are the facts

I want to freshen my motor or replace with new
I would like but understand if I can't with my states emissions laws to make around the 500 HP mark.
I was thinking a kennel bell 2.1 (which is CA legal) would be a good choice.
Have been calling around, checking prices on a rebuild and new short blocks.
I don't want to have my car down a long time so I see it sensible to buy a new engine and put it in when ready.
I hear of places like MMR, Coast High Performance and other places to get what I am looking for but am not sure where to go as I haven't really talked to anyone that has personally had an engine built by them. If so what was the experience, price, customer service and warranty like?
Maybe I should get a 4.6>5.0 stroker but how will this affect emissions?
I know enough that if I force induction my motor I want lower compression so to not have detonation and burn a hole in my pistions, I have heard that -18cc Dish pistons should do well and that 9.0-9.5 CR is good to run between 12-14lbs of boost.
I will be using pump gas of course and the highest CA has is 91
Anyone that can help me out I would be very grateful.
Also I don't wanna do a funny smog I just want to pass normal so I don't get a headache from trying to get a smog
I don't mind changing my tune or a mid pipe but I don't wanna be ripping out my cams just to pass either.

Share you opinions, experiences, HP/TQ, setups, etc and maybe I could get this planned out so when I get my tax return I can get my stang in tip top running order.

Thanks

 

[MustangChris]

500 HP in CA = a challenge for sure.

for boost levels that high you'll have to rebuild the entire engine. (forged bottom end.)

Some people are all-for MMR, while others avoid them like they give cancer...

a stroker wont effect emmisions. it would probably be the best route to get "hidden" power.

I think you have alot of opportunities to get some good power, but 500 is pretty high up there!

shoot for 375 -- it'll be much easier, cheaper, safer, etc. etc. etc.

 

[whitelightning]

A challenge indeed. However, I find I come up on them a lot.
Anyway, I do plan on having a forged bottom end. Whether I rebuild or buy a short block, that is a known factor and consistent thing I hear. Now, I have heard I don't necessarily need a forged crank because the GT cast crank can handle up to 6-700 HP. This is what I have been told. I don't know how accurate that may be but it might be worth the extra coin to get a forged one just to be sure. Idk yet.
So stroking will not affect my emissions you say? Maybe I will look into getting the 5.0 then since emissions were all I was concerned with on a stroker.
I hear I will get around 50 extra HP with the stroker so that cool with me.
I was thinking I will go with the ford racing PI heads, porting and polishing them as I have heard that doesn't affect emissions either, and freeing up some airflow is always good and lastly the only other mod besides the bolt ons is the stage 1 cams. I have heard they will fly under radar on the smog test and have seen someone who was kind enough to post his smog certificate up that they can indeed pass by emissions even tho they are not C.A.R.B. approved. So without the S/C and with all bolt ons, a tune, s1 cams, bassani catted x and slp lm1's I think your range of power is definitely doable.
What are your thoughts?