a 7psi IHI RHB5 turbo?
I think you have a lot of reading to do before you consider putting a turbo on a vehicle.
RHB5 is the frame size (a really small one at that), not the type of turbo you have. You need to know what size compressor and impeller you have, and the trim and yadda yadda. What is it off of?
Actually, scratch that.
Quick lesson in forced induction, it isn't the PSI that is important, it is the CFM. An RHB5 is a small frame, they use it for small turbos like VJ11s, VJ20s, and a bunch of other small VJ, VF, and VI turbos, and they are usually used on engines under 1.8 liters of displacement, or in a twin setup for engines up to around 3 liters. You need something much larger to push enough air for a big V6 like a 4.0, even considering how low of RPMs these things run.
7 psi? I don't know where you got that number from, unless the wastegate is set up at 7psi, which is probably true, since that is what they are usually set around for OEM or light boost applications.
To answer your question though.... Assuming you had a bigger turbo that would flow enough to keep a 4.0 from choking out of air, to put 7psi to the engine, you would need a bit more fuel, so new injectors, and a higher pressure FPR. Internals, I can't tell you, but an OHV 4.0 is pretty stout, so I would be surprised if it were a problem. BUT. No one in their right mind would put forced induction to an engine with these pathetically flowing heads.... Well, maybe someone would, but, your turbo would be doing a lot of work and not getting much out of it. Your EGTs would be pretty high. I guess if you had a pair of VJ20s and some decent flowing heads, you could be somewhat OK, but it would be no powerhouse and might choke a bit at high RPMs.