It really depends on what the ratio of the 700 your getting is, the one i got is 6:1 in 5th, but for drag you probably want to use 3rd gear, so i have no idea, you'll just have to wait and see.
As for the flywheel exploding, assuming you haven't modified it at all then chances are probably slim, but why risk it? If i were running ungoverned i'd go with atleast a 1/2 thick scatter shield, not sure where but somewhere around here there was a thread about a modded flywheel exploding, the scatter shield did nothing and it went right into the guys leg.