yeah you should be able to make it last if you ensure you're loading the drivetrain up before "giving it all". also i don't normally hold the revs solid and dump, that just results in a lot of shock force on the drivetrain and if there is a lot of grip, it might even just bog down. best to blip the throttle between 3000rpm and 5000rpm, and bring the clutch up as the revs start to drop from 5000rpm.
if you slip lots what will happen is what happened to craazy, you'll kill clutches - that's a lot of stress for a clutch, sh*tloads of heat etc, they wont last all that long like that, but people generally prefer to replace clutches rather than gearboxes.
hardest launches i've done were on the limiter, but the few times i did that there was massive amounts of axel tramp, was terrible. imo it's not worth it, even if you aren't concerned about the gearbox.
these days i don't pay much attention to the exact revs and stuff, but the ultimate result is just enough slip so the car starts moving, then bring it up very swiftly. with reasonable tyres the result is wheel spin for about 3 or 4 metres. that'd be considered still a reasonably hard launch.
fark, that was a long post, sorry