Hi there!
There has been some talk about using 49 g hydraulic lifters from some VW models to lighten the valvetrain.
I happened to notice from internet ETK that BMW also uses 49 g lifters on M52 engines!
I did bit of calculations (found useful equation from a book I have) and valvetrain (lifter, spring, spring plate, valve, collet) would be about 10% lighter with 49 g lifter compared to standard 67 gr lifter. That means that everything else staying as it is, engine rev limiter could be safely raised from 6800 to 7200 rpm.
M52 engine does have other interesting parts too... Spring plate is 2 g lighter (8 vs 10) and spring itself is whopping 13 g lighter (38 vs 51).
If those parts would be used on M42, valvetrain mass would be 18,8% lighter which means safe rpm goes from 6800 to 7550. That is of course in case that lighter M52 spring has same spring rate as standard M42 spring. I somehow doubt this as I suspect that BMW just optimized valve train power loss by using softer springs (hence their lower weight) made possible by lower lifter and valve plate masses.
Anyone know actual spring rates of standard BMW springs? Or Dbilas or Shrick springs? Lighter M52 lifter and 20% stiffer springs would guarantee happy revving all the way up to 8000 rpm

Of course then you would have to worry about bottom end holding up :p