Just my .02 cents
If you want to go with a small cc engine then I would suggest a lightened frame or lightweight drag frame, struts, wheelie bar or longer swingarm (depends on if bike comes up at line). Also drag ported cylinders, straight cut gears (2.68), lock up clutch, bigger carbs (alky),and advanced timing. AR's 20x8x10 for tires is a great choice. This setup might see the numbers you are wanting but i am not sure if a stock stroke, stock cylinder will get there. Im sure someone will chime in with actual numbers and more experienced knowledge.
I have one in the shop as we speak but I have a bigger crank with stock cylinders. i was told that my compression is good for the 1/8th mile (160-165psi). I was set up at +4 advanced timing, but was told to go to +7 timing and 110 racing gas. I put aluminum struts all around, +6 swingarm (might have to get that wheelie bar), douglas wheels, scooter tires up front, AR's 18x10x10 (replacing with 20x8x10). also getting override which you may want to consider to get all you can out of a ported stock stroke engine.
This is just from what I have been reading and from asking around. Have not taken my bike to strip yet. as soon as i get it back I will go to test and tune.