But no way could I wait until 6000 rpm to upshift, that just sounds like the motor is going to blow up, you guys would have a hard time convincing me that 6000 or above rpm in 5th gear is not unhealthy
Honda did not put the red line at 10500 without serious consideration. If it wasn't safe to rev the bike up that high this forum would be full of stories of blown engines.
Regarding fuel mileage, I find changing up at 5-7000rpm gives me adequate acceleration and fuel consumption in the range of 85 to 95mpg (UK measures) which is a bit better than the average on Fuelly.com of 80-84mpg. After 7500rpm the torque produced by the motor is fading so the bike actually feels faster in a higher gear.