i'm willing to bet an M42/44 is well capable of 11K.
dry sump, solid lifters, lightweight valvetrain components, heavy springs, light flywheel, edged crank, ITBs, SA EMS, larger injectors, serious internal balancing, high duration cams, high comp pistons, 4-1 manifold, ect, ect.. should turn out rougly 300 to the flywheel.
how long would it last? 10K miles maybe. and it wouldn't idle. if you bought a few longblocks from the JY, you'd be able to swap parts over to new motors. would it be worth it? i doubt it. why bother making 300hp at a super high rpm, when you could make 300hp at 4-5Krpm with forced induction and have the motor last 100K miles. the only way i'd build a high strung M42 is if that's what was required by a sanctioning body of a racing organization.