Actaully a little grinding and shot-peening rods can make them stronger, it makes them more balanced and equal, which is better strain distribution. It's a very common thing in stock racing for circle track and other things.
Well my idea includes tossing the cast pistons any ways for some 8.5 compression alumi ones. Other things to do, electric steering pump, electric water pump, remove AC unit, all of that will allow up to probably 9-12krpm after balancing. I was also thinking about twin-turbocharging, having two where the current belts are for accesories, and battery area. Then making sheet metal intakes, one for each turbo with equal runners, and a small crossover tube. The vehical will be running very high PSI, I'm thinking custom fabricated valve covers that accomedate a girdle for the headbolts, as well as a girdle on the lower end, scrapping most of the oil pickup assembly except to use what's left and fabricate it up as a splash shield. The engine would use an outside oil pump in place of the power steering pump (side oiler), those pumps can handle the RPMs.
I haven't figured out the intercooler part to well, but I have seen a picture of a decent one on here, some how made into the front bumper.