I have issues with the term turbo lag. Most people can not explain it correctly.
The thing about a turbo is that it is exhaust driven. The more exhaust flow, the more air it draws in, the more air it compresses.
By straight definition, a centrifugal supercharger would be endlessly laggy. However, it gives a power increase, boost increases with engine rpm.
A turbo charger makes big torque. Huge torque. Off boost, the car should have the same power/torque as a non-turbo car, but once it comes up on boost, you get a huge hit in your back. People call this lag. Its just that the turbo makes so much power that what it was before, feels pretty weak.
If you size turbochargers correctly, you can make lots of low end power, lots of torque, and minimize peoples impressions of "lag".
Check out these dynocharts from IPS of their twin turbo kit vs a few different setups on a V-8 Camaro.
http://www.camaro5.com/forums/showthread.php?t=91275