Whoever told you that you have to "bullet proof" your engine with a turbo is an idiot. Honda engines can run 15 or so pounds of boost on a stock bottom end. My mechanic has a civic with a B18A (first gen Integra engine) that he ran 18 psi on. It ran fine for a while, then he blew the head gasket and the cam seals. Our engines should be able to hold 10 psi easy, thats plenty for the street. That should give you about 260 @ the engine.
Also, whoever told you SC's are cheaper, is an idiot. You can piece together a great turbo kit just like spoolin alot cheaper than you can a SC, and any decent shop will only charge you about $500 for the install. Thats what they charge here.
SC's only make max boost at redline, and most SC's only make 5-6 psi. With a good ball bearing turbo, max boost is usually about 4k rpms all the way to redline. Turbo reliability is very good. I have driven a few turbocharged cars and the only problem I have seen is an intercooler pipe blowing off, simple fix.
But don't take my word for it, ask people like spoolinMP3 or Corky Bell or Thomas Knight, they will tell you the same, turbo is the way to go.