what is the top speed.....
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#8
Increasing HP will increase top end...
At lower speeds, torque is more important than HP. When speeds increase to the point that wind drag is significant, more HP will result in a higher top speed.
#10
If you have a rev limiter or don't want to exceed redline, yes...
Otherwise, you will reach a point where the force provided by the engine is equal to the wind drag and you can't go any faster. Reducing the drag or increasing the force provided by the engine (HP) will result in a higher speed.