It will have slightly more lag than a T3, but depending on the chip will come in harder, do you know what psi it is written to run ?
It will give the turbo a easier time and last longer than a T3 running the same boost, and have more potential for later mods.
I run a T3-34.48, a T3 compressor housing machined out to take a T34 inducer, with std .48 turbine, on a RST rear section, my boost starts at 1400rpm, full boost by 2500rpm, but I have modded the inlet ports around the ends where the valve closes.
The very first thing you want to do is to get a fuelling check done as well as the fan and pump rewire for peace of mind, and engine life.
They can be totally reliable do good mpg and give good service if looked after, they are amazing for the age of the car.
tabetha