Bumping the redline every now and then will add some wear and tear but Life's too short to get all that worried about it. Going by what I've read, the engine will not hold up to a lot of high rev use (oil pump and valvetrain tend to crater).
Like zefaulter, I seldom take mine above 6-6.5k. But I grew up with relatively low-revving V-8s and anything above that makes me nervous.
