If the 383 is dying at 6,500, you chose too small of a camshaft and the compression ratio is probably too low, along with the heads being too small most likely.
Nobody that is building a high revving, high HP engine is doing it on a budget so that point is moot. Forged parts, good fasteners, good oiling, and a good balance job is essential to make this stuff live.
A "normal" motor concentrates on midrange HP and maybe tops out @ 5,500 or so, which would make for a wild street motor but nowhere near the HP of spinning it like crazy.
The peak engines 6,500 vs. 5,000 RPM would likely go about the same speed if they both had matched setups, but the 6,500 RPM car would be faster if set up correctly. If the 6,500 RPM engine needs a 3,000 stall and 4.10s to work, and it has 3.08s and a 1200 RPM stall, it's going to be a dog. The 5,000 RPM car will work well with a more street friendly rear gear and a tighter converter and it'll have more giddy-up on the street, but the other car will likely catch it on the big end of a 1/4 mile. Beyond the 1/4, the 6,500 car is going to SPANK that other car.

Your comparison is unrealistic however, because with the same CID, the 6,500 RPM car is going to make a LOT more HP if built correctly.