computer top speed?

Does anyone know what the factory computer's top speed limit is for a 2000 5.3 Silverado? What exactly happens when you hit the top speed? One of my friends said the ABS brakes suddenly slam on and your car temporarily shuts off....is this true?

The only thing that happens is the fuel delivery shuts down, almost like having a flat spot. Once below the top speed regulated, all is back to normal.