When I had my MInes ECU the rev limit was at 8000 rpms, it was great I ran this way for years, I am running custom usdm 2jz cams in my 1j. Now with the Haltech PS2000 I have the rev limit set at 7750. I never had any problems reving to 8K, but obviously its hard on the motor, although remember the under square stroke of the 1jz, the stroke is 7x mm vs the 86 mm bore, so in comparison to the 2jz the piston speeds are way down. With upgraded valve springs and cams, I dont see why not.
I do find though in the 1/4 if I keep it in 3rd gear at the top end of the track, I get a slightly lower ET, but if I shift to 4th just before the end of the track my trap speed is up 1-2 MPH. This is because of the extra tourque available in the mid rpm range after the up shift.