No doubt raising compression, grinding custom cams, head work, custom intake manifolds and such will help. But the return on those mods will be severely diminished unless there is a programmable controller in there first. It makes sense to install a controller first and get it properly tuned in near stock trim before jumping in with internal modifications. Its not only a whole lot easier to tune that way, but it may save you from engine damage. Also with a standalone you can detune to motor for inspections and emissions tests, and breeze right through.
The FS-DE motor in stock trim should respond very well to a to a retuned controller. So IMO, it should be the first thing considered. Next, custom cams are in order, something in the 230 degrees duration range with about 6 to 10 degrees of over lap, titanium retainers/shims and new springs. Then Id be looking for some stronger, longer rods and forged flat top pistons for a C/R of about 11.5:1. Because shorter pistons with longer rods would be the best way to raise comp and allow for a higher rev limit. And, since the only way this motor is going to make good power is by raising the revs, you need to get rid of the FCO and rev limiter in the stock ECU. After that, the rest is just going to help the motor flow and run to its potential.
Youre going to need a lap top, lots of extra sensors, a data acquisition card and data logging software (or lots of gages) for monitoring critical engine parameters to ensure a correct and safe tune. But no respectable engine builder would start a project without first having a controller picked out and ready, especially with a boosted motor. Ive been waiting on AEM for a while now, but have been leaning toward the Electromotive TECIII lately. So whos going to be the first to step up and install a standalone?