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What happens on a 2002 Z06? Assuming no rev-limiter at all? What does the engine feel or sound like when this happens?
I know it will make a big bang when it blows-up! I mean when it first starts to happen, before damage occurs? Which happens first, float or pump-up?
On my early gen 1 small blocks and many others, the engine just sort of stopped reving and pulling at some high rpm point but did not ever break anything.
Which came first the chicken or the egg? Lifter pump up can occur without doing major damage, but if the lifters are pumping up, you are getting some degree of valve float. The damage occurs when the physical amount of lifter pump up causes the valves to make contact with the pistons.