With that said however, I wouldn't really have a old mid 1990's engine as any performance goal these days anyway

The S16 engine is fully capable of taking a lot of hassle if you just get some custom pistons to suit.
I've studied S16 rods along with T16 rods and the only difference is the rod width which is 24mm on S16 and 26mm on T16.
The rod width is different because the T16 crank is forged and the S16 one is cast..
As far as I know by now these forged cranks are only found in T16, 1.9 TD and 2.1 TD XU engines.
The cast crank will probably not have any problems of taking a lot of abuse.
I seem to remember a sweedish guy running 400-500bhp on a Mi16 alloy block, and that's a regular cast crank also.
When it comes to head of course the soduim filled exhaust valves will be good for cooling, but it's not a must really.
The original camshafts are so mild that it's a joke

Build your own engine from scratch and you will have possibilities of getting a much better engine.
Also don't make it 8:1 in compression as it's just too low.
I'm now ordering some custom Pauter conrods for the 2.2 T16 bottom end I'm building, can't wait till they will arrive