I don't necessarily make a habit of it, but at the same time I'm not afraid to wind things out to the redline on any of my vehicles occasionally.
On the MG, it's practically mandatory in some circumstances. BTW, it has somewhere around 100K on it, but between a non-working speedo/odo when I got it 4 years ago that was showing 87K and who knows what's happened in the past 50 years, it's hard to say if that's "real" or not. It's showing signs of ring wear(more blow-by than I'd like and lower than expected compression), and the hot oil pressure is around 40 psi idle/50psi cruising. I'm planning on a full rebuild(bore, grind the crank, bearings, pistons/rings, a cam, and anything else that needs attention) this winter on a parts short block I have, so once it's properly broken in I'll not be afraid to again flog it every once and a while. Funny enough, between the restored compression and the cam I'm planning on, it SHOULD have enough power that I won't need to beat on it as hard.