No, it just manages turbulence better. WHen you're running high intake/exhaust pressures, the internal wastegate is no longer sufficient in managing all that turbulence.
Until you're in the 400whp range, an external wastegate really is irrelevant.
Just wait for the cams, trust me, aggressive cams are one of those mods that few people know about, but if you've felt it.... oh wow. That's all I can say.
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Cornering Junkie 
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