I have a MSD and have a high end rev limiter but I know a few guy's at the track that do not have any high end protection. What parts is it likely to hurt the most if they "Go to the Moon"!

valve float which could cause a collision between them and the pistons ...

Yep and if real unlucky that'll result in bent pushrods,damaged rocker arms damaged heads the list goes on and on.....

How about rod and bolt stretch? Your piston can end up weighing 10,000 pounds plus depending on weight and rpm.

Basically unless your into throwing money away run some kind of limiter! Fair play you might get away with it once but the next time you wont be so lucky!

Add to the list killing the valve springs. Which will make later runs float earlier and hurt more things if the first "attempt" didn't do worse.

I did it many times "back in the day" with stock shifters, missing 3rd and shifting into N, as stated before, pistons get some smiley faces on them, exhaust valves all get bent and have to come out.