I flew a Chieftain with the Colemill(Panther) conversion, Intercoolers, and vgs. Great airplane.
I second the comment about contract pilots, the engines are touchy about temp. The Intercoolers help performance up high, but nothing really increases the performance of a chieftain down low. The Panther conversion doesn't add any horepower to a cheiftain as they are already 350. Mine had the increased gross weight mod, which is basically a gear mod. It made loading easy, but sacrifices climb perf. The other part of the Panther is the Q tip props. They are supposed to be quieter than the 3 blades, and give you better acceleration. One more blade to feather though when they become drag instead of thrust. It's fun to tell passengers that they are from a "really hard landing..."
I also second the fuel tank issue. Mine had the nacelle tanks which are fairly complex to operate. My insurance rerquired FSI every 12 months, and I was glad to go.
The 325 with the Panther conversion is suposed top be the hot rod of the series. I've never flown one.
Tell him to buy it and HIRE A PILOT!!!!