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Hitting the rev limiter is not good :nonod: . It is rather harsh on the rotating assembly (however, not as harsh as gernading your engine).
I believe the computer pulls timing out of the curve and it causes what would seems to be a series of misfires without the bang.
You will not mistake it when you feel it. It will make the car feel like it is kicking in and out. It can be harse enough that it feels like someone is hitting the brakes on a off hard and rapidly. :boxing
The engine misfires (stutters). You will know it when you hit it. It's not like Traction Control which cuts engine power until you are a second or two past the loose traction event. The limiter is set at 6250 on LS1s and 6500 on LS6s but you will get into it very easy if you try to run to those rpms on the tach. The tach is a couple of hundred rpm slow so you need to shift an LS1 around 58 to 5900 indicated to keep out of the limiter.
Bill