Jimbo, Jimbo......of course there's turbo lag. The factories talk about turbo lag. The new 6.0L Power Stroke has a new design turbo to decrease turbo lag over the turbo in the 7.3L. Turbo lag is from the turbo needing to spin up to speed, nearly impossible to eliminate. It's not a big deal, but it's there.
All of our Ford SVT vehicles are using superchargers......Cobra, Lightning, and Harley Davidson. Much nicer drivability than a turbo, and they put out plenty of power, especially nice at the low end where most normal street driving is done.
Personally, I'd put a supercharger on a 4.0L way before I'd put a turbo on one. Of course, that's a bunch of money to spend, so you'd have to want more power real bad, and have plenty of money to blow on getting it. I know of no one who has a turbo kit for a 4.0L, but there are a couple places to get a supercharger for one.