the speed cut off for Twin cam saturns in 124 MPH. yours may be less due to failing parts, but you cant get more out of it on gas.....you might be able to if gravity is helping you (going very fast down hill). i have seen 124, and have it not go past that. and according to Saturn, this is the cut off that the stock ECU uses. i think your needles are off if you get past 124mph...i mean hell, give me 10 minutes and i can hit 130 mph at idle, not moving at all, lol. (that means i take the dash apart and adjust the needle

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anyone who says they get more than that needs to prove it, because its virtually impossible. and dont tell me to meet you somewhere, because if my saturn could hit 135mph i WOULD NOT go that fast. plastic cars have a tendency to shatter when they collide with ANYTHING at those speeds.
as for the cars shifting past 7k RPM, your trans is not messed up, the needle on your tach is. it is common to have needles pointing a bit off (this includes speedo needles, for those of you who can hit 125-9999mph....). shifting at 7k rpm's is normal, however...if you are wide open throttle.
and a theory discussed over at saturnfans.com is that if you are in normal mode, it causes "gentle" shifts which requires a SMALL bit of slipping to make it smooth. if you are in perf mode, you get crisper shifts, which requires less slipping. so, IN THEORY, perf mode will yield longer trans lives, but most of you will not service your trans when you need to and will have it blow up on you anyway, WAY before it should, so drive it how you want. its the same concept with a 5 speed...the smother you make the shift, the longer it is drawn out, and the more time the clutch and flywheel are rubbing. the harder the shift, the less time. the less rubbing, the longer the clutch lasts. the exception is driving the **** out of your car and shifting like a retard EVERY shift.