If you bought it for 16K, why not just buy the Supercharger that Vortech has put out for the V6? I know, I know, it would still be a crappy little tiny V6, but why not just beef up the rear a little, throw in an SC, and have the baddest 6 on the block? For under 25K total $'s invested, you could add the SC, T-LOK, gears, girdle, SCT XCAL2, LT headers, high flow cats, dual exhaust, control arms, sway bars, and whatever else you deemed necessary. Hell, you could even add a Zex kit and keep it around 25K total, if not $1k under that. Will you be at 650? No.
But there is a V6 out there putting down 253 RWHP and 384RWTQ with a 100 shot of nitrous, 4.10s, T-Lok, CAI, and a tune. Oh, and he runs the 1/4 in 13.41 @ 103MPH, too. That's about a stock GTs 1/4 mile time. Add duals, LT headers, high flow cats, and a SC and you would have one bad ass car for under 25K.
Like Enrad said, getting that V6 frame to produce 650HP is doable, but at what cost? If you work with the car instead of against it, you might be surprised at the results.
All right, let the V6 bashing begin....