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Stevo,
Expect at least 250,000 miles from a well maintained B230. Maybe more if you're lucky like Token Ring Man.
Although, to be completely honest, I have never seen a B2xx engine with more than 250K that really ran well. I'm not saying that they aren't out there, but they are rare. Even Ringlee says that his smokes a little at 280K.
But the fact that your's uses no oil is a very good sign. I wouldn't expect it to fail or require expensive repairs anytime soon.
Re: Redlining the motor. Why put unnecessary stress on it? If you have a stock B230, there is really no point in reving it higher than about 4500rpm anyway. (With the stock cam, power drops sharply above 4500.) A few quick bursts to the redline every once in awhile is probably no big deal, but I personally wouldn't feel comfortable doing that on a regular basis.
Merry Christmas!
-Jim
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