I think its possible to hit +200hp on the boxer engine! I drove one friend 05 impreza rx with EJ204 engine (its a detuned version of the JDM EJ204) and it was making 160hp and redlined at 7900 rpm! it was awesome above 5000 rpm and feels kinda fast for a heavy car!
on the other hand the same MY but the JDM one was makeing 190hp and was also redlined to 7900 rpm!
Now, its been about 6 to 7 years for that engine and technology changed, so I guess with the move advanced avcs & DI , I can see +200hp on the same based engine?
the EJ204 CR was around 11:1 as I rememmber

hell if toyota make the new boxer cr into 12:1 the I guess 220~240 on 2.0L na engine is so easy! but since this is a mass production engine/car I guess we will have a detuned version for better fuel econ?