Like any engine, definition of safe will vary from engine to engine.
From a few 350z I know many guys are running just below 450rwhp and have been for upwards up 30,000 miles or more, with little to no issues (just normal maintenance). Though there are guys who try to run the same thing and run into issues, it comes down to prep, good shop (or install really), and taking care of the car properly. I would not say the 3.7l is any better or worse, but experience of the past has given a lot of what can/cannot be done to the current engine (3.7l).
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