Honestly, if you plan on drag racing the motor at all... the B16a-2 will take the abuse. B series stands for bullet proof. I've seen so many Boosted H series that have rods bust out the bottom.
B16a-2 is great for dragging... clutch point is near the top of the pedal, its a more popular engine, Type-R (b16b) head increases a turbo's power, not to mention it's red (or yellow if you get the B16b spoon head.)
B16a w/ turbo; ZEX Cams provide great turbo horsepower.
I noticed you didn't have anything about fuel upgrades, if you want 300-400hp you'll want those, Venom or AEM provide the best IMO.
Good choice to upgrade axles, as they are commonly overlooked; Clutches need to be set up too. I'm not sure how you plan on drag racing, but the 'Burn, then launch' method will eat your stock clutch after 10-15 runs.
So, instead of the H22 idea, you're saving a little money: try drag pulleys, or rebuild the tranny and get a stronger final drive ratio, or a JDM 6-speed.
Just keep your common sense and don't overlook anything and I hope you kill some 'vettes.