The wastegate is integrated into the turbo like on Buick Turbos and most TO3's.
The turbo needs to be checked by a diesel mechanic or turbo specialist. I've been very fortunate to have access to one of them.
The oil is tee-ed on the oil pressure sensor on the drivers side via a brass T junction. See Linc 200's site.
It then feeds the turbo.
From there, there has to be free 'drain back'.The drain back discharge just has to be above the highest oil level, plus another 6%, (or 0.5 inches on our 9.5" wide sumps).Welding a junction into the top of the side of the sump below the sump rail will ensure none of the oil ever banks up.
The IHI turbo can take you right up to 175 hp with ease on any engine between 121 to about 220 cubes. So a 200 running 6 to 9 pounds boost is going to be served okay if its kept close to stock. More importantly, the mid range torque goes up 50%....just like adding another 100 cubes to you little six.
Lastly, the port injected Lima Turbo 2300 EFI unit is of no use to I6'ers.
With the Holley Weber 5200, Weber DGAS, or 2300 Holley or, gasp, that delightfull 1946 1-bbl Holley Linc uses should be just fine under boost if the main jet and power valves are sized right.