An upgraded smic is worth it and you can run more than 10 psi boost if you want too. I have an CustomMSP smic and also the turbohoses hardpipes. You do not have to get an fmic, but you do need to get rid of the euro spec diesel truck intercooler if you have any plans to get more out of your car.
A 320 hp Supra came stock with an smic, granted a large one but still an smic. You'll have a hard time approaching that number with a few bolt ons and basic mods in your MSP. Point being that smic's can support power and more than 10 psi.
One of the fastest MSP's in the bragging rights thread ran an upgraded smic and more than 10 psi with great frequency. It was a CustomMSP unit. But either one will put a grin on your face after you install it and take your first spirited drive.