Yes, you could make more than 200hp at the wheels, but there's more to it than just that. Out of my research i was finding that the Jackson Racing kit was the most reliable. It is designed to go on the stock car with no other upgrades. Therefore it would get you a good balance of power while maintaining reliability. That said you are looking at 200HP for $4,500 + shipping + taxes. You should also get it tuned by Vit + $230.
Now you could go to the track pack that JR offers ($4600) and get to 240hp according to them. However, you would need to at least get a new down pipe ($150), intake manifold ($550) and a new fuel pump ($150), Vit tune ($230). I'm sure there's more you would want but this is the bare minimum i can think of - $5,800 + shipping + taxes.
Also keep in mind, once you start putting that much power into this car your going to feel how weak everything else is. Nix already recommended new tires, i would also throw in suspension upgrades. Your looking at $500 - $5000 in suspension/wheel/tire upgrades.
Now going above this into the 300's could be done. Your also taking the reliability out of the car though. And your transmission is going to be a weak link if you don't have engine issues. I personally would not do this for a daily.
If you cant tell, as much as Ive talked myself out of this I'm still on the fence. Ive already done the suspension and everything else. 200-250 hp would be fast enough for me and i still need the car to be reliable. That said, I would go with the tune it yourself kit ($3500), Vit tune ($200), fuel pump ($150), injectors ($240), down pipe($150), intake manifold ($550) = ~$4,790 + shipping + taxes.... I love my car but another $5,000+ i don't know. I'm eying my neighbors s2k instead for $10,000. Of course that'll be another $10,000 in parts because of course ill want to SC that and upgrade the suspension.... Such dilemas. Its all about what is worth it to you. Its only money...
How much power are you looking to make?