Engine wear, obviously, comes from the moving parts, and the harder the drivetrain is pushed, the faster it will wear. There's also the issue of ancillary components handling additional loads than they would at lower rpm's, which will adversely affect longevity.
That being said, components also degrade as a function of time, and a babied car will see a lot of the rubber parts shot as they dry and crack over the years. I think most of the joy that comes out of having these cars in your garage is actually going out and driving them, and while I'm not constantly flooring the pedals in my car, I generally enjoy driving more aggressively than many other people out there do. It all depends on how each person balances their driving style with their expectations of the vehicle..