would like to do that myself but what are the ozzies like about speed traps. It would be horrendous to drive such a nice road and not to be able to "give it some".
It is a pretty dangerous road to use as a racetrack. It has quite a few unforgiving curves with no run-off area and lots of tourist traffic.
Having said that it is a fantastic road to take at a sensible pace and admire the view.