Pete, Not to belabor the point, but gearing has a lot to do with shift points. If the TOTAL torque available to the wheels (Engine torque multiplied by overall gear ratios) drops more by shifting than by exceeding the max hp, then you need to push it. Had this debate with Dad about 50 years ago, he was a firm beleiver in shifting just after max torque. We made several runs with his TR3 to prove it. You will go faster by keeping the highest hp average to the rear wheels throughout the run, whatever that requires.
John, when it quits pulling, SHIFT! probably around 5000 with 50 year old valve springs, And read Steve's answer. Fifty year old parts will break, expensively!