Someone, Jim Rowe of Metric Mechanic I think, had some thoughtful words on the redline issue. IIRC, and it's fuzzy, a couple seconds above 6k or so is fine, but not to leave it there for many many seconds or minutes.
Not a scientific measurement... but I (and others) push it up to the "no more gain" point like Bill said on a regular basis, and surely it reduces the total life of the engine but it makes it more fun to drive. I see it like I'm paying an extra fee for enjoying the car to the fullest, and that fee comes in the form of a slightly shorter life to the engine. Then again, I bet 99% of the M30 cars die from some bozo causing an accident, and not from engine failure - so you're probably most likely to total the car in an accident than to ruin the engine no matter how hard you drive.
Now if you miss a shift... it's toast!
- Robin
Robin
72 Chevy K10
01 E39 M5