Agreed. Richard, if you feel like you've done it all and still want more, get a large VNT (or WG if you don't mind lag), FMIC, custom intake (yes, you can do much better than PD150), custom tubular exhaust manifold, R520s (with higher pop pressures), large custom DP+exhaust (Fix_Until_Broke did 3" DP w/4" exhaust) and a performance cam like a Dbilas 260 or the offering from Colt Cams.
Very few people in the US have done all of this, which is why we have so few 200+whp ALH dynos. After that, you can go for a 12mm pump head, port your cylinder head (install larger valves too if you want to take a walk on the "wild side"), and beef up the bottom end with girdle, h-beam rods, and some custom pistons (I think shorty has some good ideas when it comes to this).
If you aren't sick of it yet, and somehow still have more money to blow on your economy car, do a 6 speed swap, Bleached Bora has made kits so it isn't as much work as it was before. With all of the power, you will need a stronger transmission and something with a larger clutch+FW so you don't go throwing clutch springs through the case or shredding gears.
And now, if you still don't mind that you have dropped in the neighborhood of $12,000+ in parts, import the parts for a 4motion swap and make a custom floorpan for your beetle, there will be no car like it.
After all of this, you can do a body kit, wheels, suspension, paint, and then go and win some car shows. Hey come on, it's only money. Right?