Boost controllers simply control boost by altering the signal to the wastegate for the turbocharger. All fuel and timing controls should be managed by the ECU.
IMHO, ideally you should have a two position chip, one position tuned for your "street" level of boost, and fuel, and you should have the other position tuned for the "race" level of boost and fuel. Then your boost controller should be set up to easily switch between the two boost levels, and make it tough to mix it up.
