There's no doubt this high revving thing is one of the most irritating things about my 99 SVT. I've had it off-and-on for the past 50,000 kilometres (I'm at 95,000) now.
The dealer tried several cures - no codes ever showed - to no avail. What finally worked was replacing the throttle body (warranty, thankfully).
Still, about 15- 20,000 kilometres later, it was doing it again. This time, just cleaned the TB, and that worked for a few months. When the behaviour returned, cleaned the TB again, and the revs returned to normal range. (actually, they're a bit low lately, but that's another story).
I guess this falls into the "for what it's worth" category, since Ford techs have never been able to explain how a dirty TB would cause this, and if so, you'd think it would be a lot more common, since I'm sure SVT owners don't all clean their TBs every 10,000 miles.
I have to say, aside from the screaming engine at a stoplight, it's pretty unnerving to come up behind someone on a crowded expressway, ease off the gas and feel the car actually speed up!
As for the clutch, I'm convinced that regular shifting with the revs far too high like this will contribute to premature wear. I would say the same would apply to brakes as well, since you can't do a lot of gentle coasting to a stop when the car refuses to return to normal idle.
