GTS may have problems, because of the high compression, a GT would be better suited.
I wouldn't jet the nitrous any more than 35 HP for reliability, also, computerized nitrous is quite safe if dialed-in properly.
NO push-button setups, that's an easy way to blow up a motor, I'd use a TPS switch to engage the N2O at full-throttle. Definitely add an air/fuel ratio gague to see if you're leaning out.
Use it only when racing, and you should be okay, but remember, there is such a thing as too much of a good thing.
Also, if you have lots of miles on your motor, you should rebuild the motor first, and strengthen up the bottom end (new rods, ARP bolts) and also breef up the head with HD valves and double valve springs. Lastly, adding a deck sleeve to strengthen up the cylinder walls, since cylinder flex may become an issue when running a bigger shot.
Don't go with a dry setup, use a "wet" Multi-port nitrous system, that way, less of a chance of leaning out.
Good luck, and din't overdo it!