5W40 is pretty good for the SR20 in stock form. But as yours is a bit upgraded I'm not sure if it will cope with the added heat. A good 5W40 can take temps up to about 120-125 degrees C I've been told. But a car which runs that hot is normally on track or on a freeway doing well above the speed limit.
So if you use the car hard, I would go with some thicker oil, thicker oil will however make your engine run warmer as oil-flow is reduced and decrease your mpg, they generally have a higher optimal operating temp too which in a worst case scenario might be higher than your oil-temp when daily driving. Best option is to fit an thermostatically controlled oil-cooler and run thinner oil like 5W40. Fitting an oil-temp gauge also helps with knowing what viscosity you should be running.
The lowest i would go is 5W40 though, but with good cooling you shouldn't need to go above that.