The mechanics I've used over the years, and the factory reps I've talked to, all seem to be pretty unanimous in saying one should run those Continental engines as hard and as often as you can. To meet certification, those engines are test run at redline for TBO hours, and they look like new inside when they tear them down.
The O-300 in my C172TD, which is just a C-85 with a couple more jugs, runs at 2,550 to 2,650 RPM here in Nevada. At the altitudes I'm forced to fly here, cruising with lower RPM just makes the airplane mush along. I've put about 500 hours on this engine in the two years I've had it, and it seems happy as a clam. Fuel flow doesn't really change. It likes just a hair less than 8 GPH no matter what I do.
Gump