The other limitation is cooling. Cooling on a gasser is marginal anyway, so once you add a turbo, that adds heat. A street rod can handle it, because of the short duration load. Try pulling some long grade and you will likely get into trouble. It is also very likely they are not running pump gas. I can't imagine trying pay for airplane fuel every time you fill up. Back in the early 80s, there was a company that was selling an after market turbo install. Even though they were retuning it, they eventually ran into problems. I talked to them a year later and they stated they had to remove all of the kits they sold due to issues.
Turbos have now become popular on cars. (I have one on my Cooper). The difference is 2 fold. Somewhere in the late 90s, GM came out with the fast burn head. Basically it consists of a bubble around the spark plug and very little clearance on the rest of the piston surface. Part of the trick is that detonation typically happens along the outer surface of the piston. In a fast burn head, there isn't any fuel out there, so it is less prone to ignite prematurely. All the fuel is concentrated around the plug, so the flame does need to travel very far. It burns all at once. This means you need less advance to have the primary flame active at the right time to push down on the piston. You will see the specs for fast burn heads require less timing advance. As a result, they can run higher compression without detonation. I think now everyone has a fast burn design, they just don't call it that. The second issue is that they are now using direct injection. The advantage to that is that they spray the fuel into the cylinder just before it is going to be ignited by the spark. Because the fuel spray is so late in the stroke, it does not have time to heat up and detonate. So this also allows for higher compression. Those 2 issues are key to why turbos have become popular lately and never really worked out all that well on street cars of the past. Its a lot more than just the ECM preventing detonation by retarding the timing.