You know I've seen this before; this type of argument. The poster asks a very loaded question but thinks it is simple, then as people try to inform him of how serious it is, and in the process go overboard a little. Then the original poster gets a little defensive and starts losing grip on what he is talking about and digs himself a bigger ditch.
The truth lays in the middle. NO you are not going to hit 200mph in that chevelle of yours, its that simple, you obviously don't have the budget or knowledge "yet" to do it. But you could definetly improve what you have and set a goal higher than your already acheived 150. While everyone wants to jump on the bandwagon and knock down your efforts, I have only seen 1 person here who really has any first hand knowledge of what it takes, although I am not discrediting a lot of the good info from the bench racers, as a lot of it is relevant also
The key here is to take it one step at a time, like all the good info that you have recieved, 200 is much different than 150. So let down your defenses, come back to planet earth, and set some realistic goals for yourself, and do take everyones advice and really think about the safetly equipment. A rollcage is minimum, along with some racing seats and harnesses, and a safety cut off switch.
And even though we know we all push it on the street, just keep it to yourself about your 150mph on ramp blasts. Of course everyone is a hipocrit and does similar things themselves(or maybe they don't, but I know I have) but its common sense not to announce it to the world, as if it is the thing to do.
Fastest I have ever done was on my bike 140 on the freeway, and that is a corrected speed, most bike speeods read high, but mine is corrected. I do not plan to ever push it on the street like that again, all that was running through my head was "what if". I have done 125 down the straight away at thunderhill and had to brake to about 75 to take turn 1 which is scary as hell, but the fast guys do about 150 down the straight and probably cary about 90 into turn 1
So do your mild suspension upgrades and see where that gets you, and take it one step at a time. This is the key in any racing, NO ONE jumps in head first and shoots for the highest goal. So maybe your next question should be more along the lines, of how to get your car faster, smoother, and more stable, not a MPH goal.