It's a good job it's a wet day!
[ref]axelleveau[/ref], [ref]buzyg[/ref], I do understand what you are both saying and I am sure that automobile design engineers indeed choose to over gear transmissions to facilitate better fuel economy and reduce emissions especially with automatic transmissions, thank you for the pretty graphs, they did help explain what you were trying to say
However, the graphs looked wrong and I couldn't put my finger on why, so I spent the wet morning completing my own using the engine power which is readily available and accurate, as every engine is tested after assembly to confirm minimum performance characteristics. What both graphs below demonstrate is why gear spacing is important and why engineers spend a lot of time getting it right, because of the effect on driving experience.
My original response to [ref]buzyg[/ref], was "as the final drive gearing and maximum engine rpm allows" and I concede that I should have also stated as long as the power available in any gear exceeds the power needed to overcome drag. Though if you look at both charts, one for the e86 3.0si and the other for buzyg's e85 z4m, they clearly show as power starts to drop off, power in the next gear is not significantly less and importantly, behind the drag power curve and thus Vmax is in 6th. And yes they don't include transmission losses but they will be identical for 5th and 6th gears. I have not chosen to perform this using power at the wheel, because there is no provenance on the dyno results and they would be specific to that car only.
When I first helped B21 with the calculations, the theory behind was to give an estimate of the Vmax on all the Z4's, using principles of power and drag equations, which he has expanded on, the idea was not to plot out every power in gear curves

oke:

power data taken from automobile-catalogue and Cd taken from carfolio