7M-GTE will make plenty of power for drifting. Although you need to be thinking about suspension and sway bars to get the body roll down lol.
Do a good Headgasket job even if you don't do a metal Headgasket you can do a Felpro/ARP Stud job and be really reliable. Just take care of the car do regular maintenance.
And the most important is making sure Stage 0 is done be for modding the crap out of the car and turning up the boost.
I like to think the 7M can be just as good of a motor as a JZ if taken care of.