Here's a chart with turbo put on the M50 (800cc V-twin) with 4 lbs (Courtesy of Dark Knight over on M-J.com):
Most of the items he used to do it:
Boost Gauge
SAAB 9-3 9-5 TD04HL-15T Turbocharger
Tial 38mm wastegate w/ small spring installed (5.8lbs spring)
Turbo Exhaust 3 Bolt Flange with Socket Ball collector
T2 Flange & Gasket
Tial 38mm Flanges
Flanges from Original exhaust (have the donut behind the flange machined out to 2 inch I.D.)
1 90 -4 Fitting
1 45 -4 Fitting
1 45 -8 Fitting
1 90 -8 Fitting
1 -8 Weld in Metal Fitting
1 12mm to -4 banjo Fitting
1 1/8npt to -4 Fitting
XRP -8 to -8 fitting pt# 980008 (screws into oil fill hole)
3 foot of -4 Line braided black or Stainless
3 foot of -8 Line braided
2" OD Mandrel Bends
2 1/4 OD Mandrel Bends
2 3/4 OD aluminum straight 2-3 inch long with bead roll (weld to turbo inlet for air filter)
3 inch thin wall alumminum pipe (intake)
2 inch OD straight aluminum pipe (Intake)
Flat plate of aluminum about 3/16 to 1/4 thick (intake)
1 PCV Valve From a Turbo Talon (DSM) Fitting that screws into the K&N SN-2580 Air Filter
Vaccum Hose For boost gauge and turbo to wastegate
The M50 exhaust mounts same as ours. In fact, when I've got the bike apart and want to start it without messing with the longshot exhaust, I just bolt on a shortened M50 front cylinder header pipe.
So maybe a few parts of his design may be similar to what would be needed on the LS650. I imagine the stock internals are more than strong enough to handle a 30% increase in torque but it's probably a throw of the dice beyond that. It would be interesting doing a compression test after a few months of use to see how everything has held up. Does Wiseco offer a 2mm over piston with low friction coated skirt?