Breaking 500 on the Z should be easy.
In terms of the spray, I never liked it for some reason. It is the cheapest form of 'boost', but I never got into it. For the reliability aspect, any car can be reliable, but it depends on how it's built and maintained.
If you build the car to handle 650 hp (built the entire drive train) and only put down 550, maintain it religiously and don't bang on it every single shift, it could be a very reliable car. Especially if it's not a daily.
I call everyone a baller, so don't take it seriously...lol
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