The right clutch can make the difference on running a Toploader (or any transmission). With that kind of power, you almost need a "slipper" clutch.
Lots of new Toploader input shafts are made in 1-1/8x26 now and I would argue that those are the strongest out there. They will hold about 1000 hp in other transmissions. I know that the input shaft is not necessarily the weak link in a Toploader, but I've seen lots of twisted splines on factory pieces.
The TKO 600 is a great trans if it's prepped correctly. If you're shifting above 6000 rpm, it will take a lot of prep unfortunately.
Never been a T-56 fan but they seem to address some of the weaknesses of the TKO 600. FWIW, when comparing the two, the T-56 is longer, bigger around, and heavier, so it may make it harder to fit in some vehicles. Also a lot more money. Depending on the engine, rear gear ratio, and where you do your most driving, the extra overdrive may never get used.
If I were drag racing only, I'd be looking for a Jerico.