Hi there... I'm fairly new here and I don't have a "new" Lotus (I still have the one I bought in '67, it's going into major re-fitting) but I have some time on nitrous and thought I'd offer a few observations. Disclaimer: I've never done nitrous on a small engine, or one with ECM. My first installation was in a Chevy Vega panel wagon with 427 tunnel ram motor. I piled on an NOS Pro Fogger (8 port, approx. 375-400 hp) and found out 950+ hp was a bit more than the suspension was capable of handling. It was, however, impressive to watch...
There are some things that are true about nitrous no matter what:
1. It's about torque, not HP... you want to be considering how much torque your vehicle can withstand. If you don't, the N2O will do the research for you by breaking all the weak links in ascending order. If you're lucky, it'll just fog the tires (hopefully at a good time) or maybe break a gear. Believe this: it will find your weakest parts.
2. Basically, you can't throttle it. It is off or on, Period. This can have consequences in a car like a Lotus where straight ahead fast isn't always the plan. You CAN moderate the impact of the N2O coming on through careful design/installation, but not coming off. This could mean losing significant torque to the rear suspension abruptly at whatever point you back off.
3. A single N2O stream is only effective for a relatively narrow RPM band. Since it flows at constant rate (remember, it can't be throttled) it is introduced at, say, 4,000 rpm at a volume you and the engine feel is prudent (yes, the engine will have a say here... read #1 above) and the charge will decrease proportionally as the rpm rises. at twice the engine speed the N2O contribution from the constant flow will be half. If you need "extended torque" you can add additional stages to feed the upper rpm ranges and maintain the torque level. This can get complex...
4. Nitrous' advantage/disadvantage centers around the same thing: it is a boost, not a power plant. Think of it like a JATO (Jet Assisted Take Off) bottle on a plane: it allows the user to seriously increase take-off power but neither the airframe or the fuel supply are designed for long-term use. In that vein, it IS appropriate for straightaway passing of larger, more powerful track cars... just get off the gas before the next turn!
5. Nitrous without a comprehensive safety system is tantamount to Russian roulette with a .45 automatic. My systems always had a separate fuel supply with a low pressure shut-off, RPM activated trigger enable circuit, and a starting purge system.
6. Nitrous is a lot like beverage alcohol. It will allow you to get supremely stupid without discussing the consequences beforehand. If you marginalize it or get your ego tied up in it (as in heck, I only had two beers...) it will likely kill parts and maybe you. If you treat it with respect and use it sensibly, you can probably do so for a long time.
There are a lot of myths about nitrous, just as there are myths about other things that most people don't understand. Fear, ignorance, and a desire to sound authoritative is a dangerous combination; do your own research.