As mentioned a lot has to do with tuning. I have a few 550 RWHP SC and TT cars out there running well on stock engines. Get to the 575 area and it seems I run into the ringland breaking between the top and second ring.
Now keep in mind that most of these cars are drivers with occasional WOT on the street or track. If you are a hard driver a lot of the time, then you can expect issues such as pinched rings and burnt pistons at the 550 level from what I have seen.
I would also install a good set of valve springs on a stock LS to be safe.
yes it can take that much power but like said if its driven really hard all the time, might want to back it down to say 500rwhp. i would definetely add valve springs to a boosted LS1. make sure your tuning is right and you have enough fuel for the amount of boost you will run.
Don't forget that big boost combined with factory high compression will eat up bearings if driven hard and often. I just smoked my bottom end after 12k miles on my 520rwhp MagnaCharged LS2.......I'm PISSED!!!