Turbos are working today with EFI injection and controlled wastegates. I don't think there is an EFI system available today that will handle 120 gallons per minute of nitro. Exhaust pressures and heat would kill the turbo. One of those come apart and it would cause a lot of damage. Back in the day that you keep referring to, clutch management wasn't around and the turbo car had unpredictable horsepower. Smoking the tires is usually caused by the clutch catching up to the motor and locking up causing too much wheel speed, thus spinning/smoking. Add controlled horsepower earlier and the motor will stay ahead of the clutch causing clutch slippage and no tire smoke. Same with wheel stands, not enough power to drive through the clutch for slippage, and if there isn't enough wheel speed generated, the car will do a wheel stand.
The hot set up when I started racing a fuel funny car was a 3.70 gear and clutch management was just beginning. I found, as did others that going to a 3.50, then 3.30, then 3.20 and then 2.90 gear was viable with the clutch management systems, and we increased speeds along with lower ET's. Gear manufacturers got tired of making runs of the latest gear ratio and not selling the whole run before racers changed ratios. When it got to the 3.20 and 2.90, the manufacturers started making the racers buy a whole run of the gears and it was getting expensive. So it was decided to stop at the 3.20 ratio, thus the ratio rule. All of these ratios were for the 9" Ford Pro gear that had the bigger diameter pinions. As these started breaking with the extra strain on them at lock up they were upgraded to the 9.5" ring gear. As these started breaking, some teams changed them every run, we would get 2 -3 at the most, the 10.5" rear came out but was quickly replaced with the 12" ring gear using the tooling from a Chevy truck rear. At that time we were paying $1,700.00 to $2,000.00 for a single ring and pinion but you could run all year on one set where before we were buying the 9.5" thirty at a time.
Once the rear end ratio was settled, ET's were lowered with the clutches and mph was dictated by blower design. And once the blowers got close to optimum, head design took a huge leap. Changing from an AJPE stage 6 to a stage 7 will make your engine rpm 300 - 400 rpm more at the hit. And now you are seeing the results of just changing the angle of the exhaust pipes have had on the funny cars, along with the expense of the experimenting. Along the way was a lot of injector shape experimenting (on the inside where fans can't see it), chassis design (again under the bodies where fans don't notice), camshaft work to go along with the blower, clutch, head, injector development,
I was in the top end stands at Dallas when Ray Higley lost his exhaust just past half track and actually flew from there and landed in the shut down area hitting John Force.