Thanks - I was assuming gasoline.
So if I want to avoid burning valves the EGT is more useful.
Yes. Helps prevents burning valves or the turbo mostly. But, knowing where the limit is is hard. I've run over 1600F sometimes, but try to tune so 1600F is the max. That would be the death of some engines, but not for others. There are so many variables. One of them is the valves themselves. Something as simple as a 3 or 5 angle valve cut actually makes things worse. The exhaust valve gets hot from the hot gas running over it when it's open. The main way it can shed heat is by dumping it into the valve seat when it's closed. How much heat it can shed is related to how much surface contact area it has, and how long it's on that seat. A basic single angle valve cut has a lot of contact area. A 3 or 5 angle reduces it to a thin band. Also, a high performance long duration cam keeps it off the seat longer. So both of these common high performance naturally aspirated modifications make the engine less tollerant of EGT's.
When tuning with EGT's in mind, you're kind of between a rock and a hard place. Assuming everything else is the same and running right, you're balancing off the EGT's vs. Detonation. Retarding the timing to eliminate detonation increases the EGT's. That's where the Air/Fuel ratio comes in. Running richer decreases both the EGT's and the chance of detonation. But, it's usually at the expense of power. But sometimes it's all you can do.
Now, there's something else I wanted to point out. There's an interesting thing that happens when you start detonating. The EGT's actually drop. Normally there's a boundary layer of cool air blanketing the combustion chamber walls. When you get even a little detonation, the boundary layer is broken up, and the piston, head and cylinder walls are exposed to much hotter gas than normal. This is what damages them. But, this is also pulling more heat out of the hot gas charge. That is why the EGT's drop suddenly. So if you're tuning, increasing the timing or reducing fuel, and all the sudden the EGT's start dropping, STOP! This can be an indicator of detonation before you can hear it.
I tuned my car on the street, not the dyno. I don't care about the max power, I just want it to run right and be safe. I just set the AFR under boost to 11:1, and run as much timing as I can without detonation, and make sure the EGT is not too high.
Sometimes dyno tuners are too aggressive. Too close to the edge. When they're looking at that power figure... it's addictive. Result is often an engine that can only run full throttle for a 1/4 mile, or one dyno pull. Any more and it melts down.
I've been pushing 12psi of boost and getting about 240hp out of a 130hp economy car engine that has no internal mods, for about 60,000km and a whole lotta track time using this simply approach.
Sorry for the ramble, but I love combustion science and you got me started.