2 small ones or you will be constantly spooling up, there isn't much point in adding weight and complexity with a bigger turbo, as you are back in the realm of custom fabrication and continual test development.
The point of 2 turbos is so you get half the lag to start and then whist that is delivering power the 2nd one starts to spool up. You will improve the characteristics of delivery but on a 1.6 L engine there isn't much power driving the turbos to start and you are doubling the weight of the system.
I think if a bigger Turbo suited the Elan then Lotus would have fitted one already.
The bigger the Turbo the more power you will lose at the bottom end and probably end up running out of revs before the 'upgrade' pays back.
It's a bit too american for me, bigger is not always better. You also have the rest of the engine to consider when adding more pressure and more air to the system.
The standard IHI turbo can deliver more pressure without adding any lag, so why change it? Just let it deliver more pressure if that's what you want, unless of course your waste gate never opens on boost?
