Something I've never really thought about until now.. but on older manual tranny cars, pre EFI and especially older performance cars - is there anything to prevent you from overreving the vehicle while going into the red (fuel cut) if you shift too late?

 

Ignition cut.

 

Most older pre-EFI cars do not have anything to prevent you from overrevving. My '71 240Z didn't have a fuel cut or ignition cut (It does now with an MSD, though, set to 7200).

Nor anything to prevent you from locking the brakes, or breaking traction on acceleration, etc.