Congratulations... and I'm a mechanical engineer who understands the design of systems like this from a very intimate level of detail. I have also been busy getting my hands dirty on cars all my life, so this isn't something I'm unfamiliar with. None of that is neither here nor there, if the t-case wasn't designed to withstand speeds over 50, it WILL shorten its life span with regular road use (you even said it yourself, when the wheels don't bind, it's not an issue. but that doesn't mean you can just leave it engaged 12 months a year and expect it to last long). Not all model years have the same t-case with multi-mode or whatever. If you want to keep debating the point, be my guest, but I'm out.
Congratulations on being a mechanical engineer. We get young mechanical engineers wanting to be a part of Professional Racing teams (not the hobby racing which is what it amounts to on the Salt Flats) I've worked/work on, all the time. They invariably have a lot of book theory, but little to no practical experience.
They'll make suggestions of how something should be made, not fully grasping how much clearance is necessary between two (or more) dissimilar metals that expand and contract at varying rates, wear rates of certain metals in specific applications, etc.
In short, they mean well, but are usually lacking in the understanding of applied mechanical engineering.
It's the reason they rarely last on the teams. People that have been actually doing the work and experimenting with new solutions, know more about what works, than the book-smart engineers.
Just so I don't offend all engineers, there are some working at the various high-performance manufacturers that have a very good understanding of what works in the particular application(s) they work on.
Anyway, to reiterate, the recommendation from Toyota is not to SHIFT INTO PART-TIME 4WD or FULL-TIME 4WD (AWD) ABOVE 50 MPH. Once in 4wd, you can drive as fast as conditions allow.
The reason you don't want to shift the transfer case above 50 mph, is because there are clutches in place to bring the front drive up to speed, without gear clash. Below 50 mph they work reliably. Above 50 mph they may not reliably be able to bring the driveline up to speed quickly enough, and you will then experience gear clash. More commonly known as grinding.
There is no ultimate speed limitation placed on the transfer cases from Toyota. Nowhere will you find information from Toyota stating you can't exceed 50 MPH with their transfer cases.
Of course part-time T-cases that are used in situations where they experience binding due to driving on high-traction surfaces, will wear more quickly. That's my whole point of only using my part-time 4wd in situations where wheelspin is possible, thus no binding. I estimate I've done high-speed runs on the Salt in part-time 4wd, approximately 60 times over the years. My T-case still operates as quietly and smoothly as it did, the day I drove it off the lot in '97.
Just one last note, my Sister has an '01 4Runner that has a multi-mode T-case. The inverted tooth Morse chain in her multi-mode T-case is no stronger or more durable than the Morse chain in the part-time T-cases. The multi-mode case does have a differential in it that allows use on any surface without binding. She has left her 4Runner in full-time 4wd (AWD) since the first Winter she had it. She says she prefers how the truck feels, even in dry conditions.
I am the only person that has serviced her 4Runner. The Transfer case has shown no signs of abnormal wear. 13 years of use in full-time 4wd, and it's just fine.
My part-time T-case is now nearly 17 years old, and is just fine too. Knowing when and where to use it, and servicing it regularly, makes all the difference.
All the transfer cases I worked on back when I did that type of work, were owned by people that didn't service them properly, and/or didn't understand when and under what conditions their particular transfer case could be used.
That's also the reason for the proliferation of AWD systems that require no input from the driver. They have been dumbed-down for the average consumer that just uses their vehicle as an appliance.