I have used nitrous oxide and it can be maintaned responsibly, but if you don't know what a safe HP level of use is, you don't understand enough about nitrous oxide to use it correctly.
The best thing to do with a nitrous system is to invest in a controller like Jacob's Electronics Nitrous Mastermind or something equivelant. A controller makes the use of an electronicly metered valve and automaticly adjusts timing along with the amount inducted and when it's inducted per each combustions condition. Very much like an EFI system, only for nitrous injection.
It should only be used at WOT and with the correct fuel pressure and timing retardation. I would never use nitrous oxide with a cast piston.
It all comes down to the money=HP equation. Yes, you can do it, but it's usually not worth it in the long run.
Top fuel 800+ cubic inch nitro-methane dragsters pushing 2000hp can run 3.4 seconds in a 1/4 mile. Anything is possible, but they rebuild the engine after 3 runs IF they are lucky enough to make 3. It's usually 1 or 2 passes.
How can they do this? It's called a bottomless pile of $$$,$$$ made possible by corporate sponsorship.
Nitrous oxide IS a lot like a gun. I like that analogy, but the truth told, even with correct use it does take thousands of miles off of the lifespan of the engine.
Nitrous Oxide was first used in world war 2 fighter plane engine development for temporary added oxygen induction at higher altitudes and for climbing without stall. It has been around in automobiles since the first nut case decided to take an allison v12 from a P51 mustang and put it in his '23 roadster, nitrous system still intact and all...
The reason I say no on the idea is for 2 reasons:
1- You can spend your money in better places on a stock, cast piston engine and get more life and fun out of it. a safe 50HP shot is all you should do and it's hardly worth the work and $ envolved.
2- The idea of using Nitrous Oxide itself. I think it's wallet HP and not smart HP. There is nothing impressive about nitrous oxide. Anyone can throw money at a nitrous system and go fast, but it's temporary in the short run, needing to refill it all of the time AND it's temporary in the long run because it destroys engines, even when it's correctly used by an experienced perosn.
Anyone that disagrees, I suggest to pull an engine apart after 40,000 miles that used nitrous oxide and compare it to the same 40,000 mile engine without the use and prove to tell me different.
Let the babies have their bottles.