can i run just a regular felpro blue gasket if im producing 7 pounds of boost

 

Yes.

 

at what point should you use a higher performance gasket like those SCE's I saw in summit for 200 dollars. Would I be wasting my money?

 

Yes, if they are copper they will cause you more grief than anything on a street car. If you can use a regular 1003 fel-pro then with a high boost setup consider the fel-pro 1142 mls gasket. It is not necessary at a modest 7-10 lbs though.