This Fascination with high boost on the 6.5 is really an interesting subject.
The 6.5,even the P400 was never ment to run those high boost pressures.
The end result is going to be trouble that you are not going to like.
The P400 has a great bottom end now and the metalurgy in the block and heads has been improved too.
The issue is that there is still the same number of head bolts and these engines still use the same head gaskets that have been around for a few years now.
Running boost levels of 20 PSI is a one way trip to engine destruction, not if but when.
The Dmax, the Cummins and the Power Stroke have a little different layout in the heads and can handle more boost.
The fact that you have an IDI engine (precup) is one issue and the lack of more head bolts is the other.
The P400 was never meant to handle 20 ++PSI Boost, the P400 was designed to create a useable platform that could produce around 300-325 HP and 500 Ft lb torque at most and do it over the long haul.
I would leave the compression as it comes from AMG change the turbo out to reduce the backpressure on the drive side and then run about 14-15 PSI absolute max with no more than 1000F EGT showing at the Ports.
SO turn up the fuel or chip it depending on if your using a DB2 or a DS4 until the black smoke just starts to show at WOT on a pull.
As has been mentioned, BLACK smoke is $$$$$$$$$ going up the stack thats not making HP, Only heat.
Now, there are a couple ways to reduce compression ratio.\
Cut the tops of the pistons, or use a piston that has a wrist pin C/L thats slightly higher (lowers the piston in the hole)
You do not cut the block unless the block deck has been damaged or worn from time and use.\
There are .010" thicker gaskets but these are designed to be used when the deck has been cut, to restore the head to the standard location and also to keep the comp ration right.
A stock engine in the mid /late 90's vintage will have only about .045-.050 clearance between the piston and the head at TDC.
The late engines (AMG) are at 19:1 compression ration.
This is a great place to be unless you are planning on putting this thing on a 8% grade with the throttle wide open and keep it there for half a day, all while pulling 10,000 pounds.
My suggestions are not made because I dont like BOOST, I do like keeping an engine together far more than wrenching on them.
A well built 6.5 with things working right can do 300-320 HP and live.
This can be done handily with boost pressures no more than 15 PSI and EGT's kept in check.
Your new P400 has limitations. Live with them and you will be happy, step out on the edge of the envelope and you will find a place you dont want to be.
Its called MELTVILLE
Above 15 PSI the need for an aftercooler come into view really quick.
The 6.5 was just not designed to do more than what I have spoken of.
Your P400 is not going to make a D max nervous and only give a good running powerstroke of the 97 vintage a bit of a tussle.
Sorry about the bucket of cold water on the campfire, but I hate to see a fella plunk down the $$$$$$$$$$$ for a new P400 and then send it off to destruction.
At the power levels spoken of the P400 should be able to serve really well for 250K miles or more with some care.
The head gaskets are still the fuse, even on these engines.
Been with this engine family since 82 when they came out and owned a bunch of them. Broke some too.
Hope this helps.
Missy