I'm pretty sure the engine is rev-limited, THAT is what you want to avoid. Although you shouldn't take any engine into the redline every time you shift, doing so during moments of raped-ape-travel is not horrible. However, there is no point to shift AFTER the engine is done making peak power, as I don't know the exact numbers for this, hopefully someone else will supply them. If the engine is makes peak power a little into the redline, you'll most likely be shifting around there.
However, if that is the case, you're going to want to be very precise -- if you miss a gear or over-rev, you've got less wiggle room.
If I'm wrong, please correct me.