200bhp (170whp) is possible on a street driven LS, but you're pushing the envelope.
To keep things simple, lets refer to your peak power goal in "whp". A powerband of 5000-6500 should be assumed for such a high peak whp figure. So we've established that you want a high rpm powerband, yes? Good. Lets see what type of parts and specs you'll need to get there:
Intake: short ram (preferably with an icebox housing)
TB: bore out TB to match your IM (see MD's article for specs)
IM: big plenum, long and fat runers (skunk2 or ITR)
Cams: something with long duration, high lift, and tight LSA (I recommend Crower 403 or 404 for your power goals). Don't forget the peripherial tuning parts that go along with these....adjustable cam gears, stiffer valve springs, fpr and fpr gauge
Port and polish on your head would help you. See an experienced engine builder........I wouldn't know where to start advising on the specs for a PnP.
Pistons: B16a pistons will net you a higher CR (this will be key in to getting the most out of your cams) to really take advantage of the aggressive cam profile. They bolt directly onto your LS rod (no modification necessary)
Header: 4-1 with a 2.5" collector (assumes that you're not getting a custom hybrid header built). The JDM ITR or DC Sports JDM headers are very affordable options
Cat: 2.5" Carsound or Renault high flow cat
Cat-back: 2.5" piping with the b-bipe flange bottleneck snipped out. Muffler should be a straight thru or twin pass design
Fuel tuning: a standalone ECU would be best. Hondata would probably be a good option for you, I'd stay away from an SAFC with a setup this advanced.
You should be able to hit 165 whp at your stock redline with this setup. Theoretically it should pull harder around 7200-7400 rpms......but that means a raise of the redline and you stated that a major concern for you was reliability.
In order for you to raise the redline and maintain some reliability you'll have to look into swapping rods and cranks to get your R/S ratio up higher (1.75 is considered ideal). Keep in mind that when you start swapping out the rods and cranks for better R/S ratio you'll also start losing displacement. In this case if you went with the same setup listed above and swapped in the SI crank to get that R/S ratio up to 1.77 you drop your displacement down to 1.59 liters. So, in order to make up for the lost displacement you'll want to consider boring and honing your block. 85mm bore + new sleeves from GE + 185922 pistons from JE + SI crank + LS rods = a 1.76 liter engine w/ a 10+:1 static CR and a 1.77 rod stroke ratio that would happily rev to 7500 rpms and really let those cams breathe. The higher redline will really allow you to exploit that engine package which is designed for a high rpm powerband like 5000-7000 rpms.
Don't underestimate the importance of tuning this setup! You'll really want to tune it well to see max gains from this combo. And by all means: don't forget to tie in your transmission to your powerband. A high rpm powerband combined with our wide ass LS tranny will leave you with "your pants down" on the upshift as you'll fall way outside your powerband. A less powerful car with properly geared tranny for his/her powerband will eat you up every time you have to grab another gear. SurferX has an excellent article on gearing relationships in the articles section.
......Who ever said this hobby was cheap?