8500 rpm! wow that is high to be regularly revving it! I am not sure I would do that on the stock upperend.

Marek

 

I had the limiter set to 8000 and that was fine with the HKS 280 and stock valvetrain on the 16 and 20g setup but with the 35R the RPM's come so fast that I kept spanking the limiter and nose diving from loss of power. I've since raised it to 8500 but I still try to shift ~ 8k..this just keeps me from nose diving as much with the extra wiggle room. I've seen 8500 a few times, no problems but I don't intend on taking it there on purpose.

 

Each car might be different depending on how each part of the engine are balanced and manufactured, but from my experience 8021rpm fuel cut is no problem.
I am also Mellon tuned as you can see in my sig, and I spent 4 hours at a road racing course 2 weeks ago. It isn't a difficult track but very harsh on brakes and engine as there are tons of straights and tight corners (whereas mid to high speed corner would utilize suspension a lot more). I didn't lower my rev limiter and I have been pushing the car as much as I can for both days, to the point where pistons in calipers are all deformed (pads, fluids and rotors were already toast). There are some moments where there isn't just enough room for you to upshift so you'll just bounce off the rev limiter for few secs before you brake into a corner, happened quite often that time.
I may be reducing the life of my engine but all I can say is it is not high enough to blow your engine right off the bat.