If you get all the gasket material off the mating surfaces of your motor without scratching the alloy head up you should be fine to run a new composite gasket. However, I'd recommend you get the head pressure tested and possibly do a valve job while you have it apart.
It really depends on how your motor is set up, how much boost you are running, and how hard you are driving your Supra that determines whether or not you absoloutely need a MHG. If you are running alot of boost you need a MHG. If you are driving the car hard much of the time you would also benefit from a MHG.
That being said, the truth is that anyone with a Turbo Supra is going to have greater reliability and the ability to run more boost with a MHG. The reason for this is that unlike a composite gasket which is not very strong and is subject to failure under high pressure (turbo boost) a metal gasket is essentially a 1 piece metal shimm that is far stonger and not very likely to yeild to extreme cylinder pressure.
The down side of a MHG is that it requires a very fine finish on the gasket mating surfaces (the bottom of the head and the top of the engine block) in order to create a good seal between the head and the block of the engine. The other down side is that kind of machine work costs as does the MHG itself. But it is absolutely the only way to have real peace of mind with a turbo'd motor especially a 7MGTE which are legendary for blowing head gaskets out (especially at elevated boost levels).
Lastly, the "experts" in your engineering class couldn't be more wrong about lapping the block and head in order to run a MHG! You will not get an adequate seal without lapping the block and head. I have seen people try on brand new heads and fail miserably.
Good luck and tell the propeller heads who told you that to stick to their slide rules.