When i got my series 1 it had; a stainless and K n N and 9psi. . . It was 148 bhp.
After wanting one since i was a 'lad' i must say i was very dissapointed. But... I had it chipped and I was VERY impressed!! It just transforms the car. A Chip, uprated intercooler and 16psi will more than see a VTS off.
My advice is get it chipped... you won't regret it