the noise you year is the computer not letting the injectors fire, cutting the fuel there is NO reason why you would need to hit the rev limiter its only there to protect the motor incase you miss a gear and hit it or something of that sort, the car does NOT make any power above 5500 rpms and even the stock tach is off by a bit~ 200 rpms or so, so 5300 is about where I would shift the car, by shifting at redline or where teh car cuts off you are just making your car slower.
just dont rev till it cuts off and you will be fine. and also dont rev the car right after you start it cuz you dont have oil pressure (talking about right after you crank it 1-2 seconds revig it, let the car idle for 20 seconds till the rpms come back down to around 800~ before you take off after the car has been sitting a long while)