going with an auto or manual trans? If you go auto expect to spend at least 25% of it on the trans. I would go with any of the Cummins engines. Big power has been made on all of them. I would go with either the 12 or Common Rail 24v. Nice thing about the CR's is you can detune it pretty easily. I do believe I read the 12v's can be fabbed up with a valet switch that cuts back some of the fuel or something of that nature.
If you go with the CR, like I said expect a minimum of 5k for a trans, another 3k for dual cp3's, $2k+ depending on single or compound turbos, $1k for some better sticks, Programming, boxes, modules $???....already over half your budget, but I bet it gets you 650+ horsepower with several thousand leftover.