Im running about 460bhp on completely stock internals, but I wont go any higher until I at least get uprated valve springs. Its not Bhp that makes your engine go pop, its torque, 300ftlb is about the limit.
Saying this though I have seen 3 500bhp+ k20's on stock motors, one was puffing out a lovely blue smoke and the other didn't sound very nice, the third is Ben's EG at TDi North.