Hrmmm let's see...
7500 * TQ / 5252 = 1.5 HP solved, is, 1.05 lb-ft of torque. <(Old engine values)
11000 * TQ / 5252 = 4.2 HP solved, is, 2.00 lb-ft of torque. <(New engine values)
Your new engine is 190% stronger than your old engine... Is 2.00 lb-ft of torque enough for 60 MPH?
Not to be a killjoy, but aerodynamic drag increases exponentially; so while you may be able to get 40 MPH now with 1.05 lb-ft of torque; double the force does not mean double the speed.
Though let me know how it goes! I'd love to see it happen!