I don't know about a D1, but I know a DII is limited to 120. I've done it under carefully evaluated conditions. Clear highway for miles and miles and straight as an arrow, radios on either end to make sure nobody else is out there, dead air, tires rated to 130, and a full set of checks and evaluations. I test every aspect of every vehicle I own, to include a top speed run under circumstances that are safe for everyone around me. This is the only vehicle I have tested that I didn't test on a track, and I still regret it. It's an unsightly blemish on my otherwise perfectly safe roadway record.
I am certainly not going to endorse this sort of behavior. I'd much rather condemn it.
It's not designed for those speeds. Oh, you can get there, but it's like driving a train through Jello. And it's certainly not something you should be doing.
You should never exceed a tire's rated speed, either.
As for the way the RV8 handles revs, that's another story. This is a lightweight, small displacement V8, it can rev. As a matter of fact, I am personally of the opinion that much of the crap building up in people's motors could have been prevented by a bit of spirited throttle application.
If you drive it like a V8, it will be slow, it will gum up. I drive mine like a straight six, with an emphasis at 3500-4000 for any manuvers requiring acceleration. It's fine much higher, but Land Rover favored these RPMs, and you aren't making any more power. 4500 is pretty much the cap on power production, and is a goot point to finish up a pass. Nevertheless, a steady, long rev through the entire range every now and again will clean them out very nicely. The motor works best at higher RPMs than other V8s. I would also submit that the motor, were it cammed for it, could certainly handle being driven at higher RPMs for extended periods. As it sits, the ground would have to be too level, or you would have to drive in too low a gear, but there is no mechanical reason it can't handle it.
After 80,000 miles of driving like this on this motor, my valves are fine, she runs like a champ, and idles smooth as silk. I also never feel that my Discovery is slow. Quite the contrary, given her size, she is quite fleet of foot.
Cheers,
Kennith