Thant's fine. I didn't know if you were just assuming at was an across the board thing for Toyotas or something.
Top speed depends on many factors... I've been up to an over 140MPH (all GPS verified, the stock speedo isn't reliable) in a few different MKIIIs with plenty left in each one. I haven't tried it in a stock turbo MKIII myself, but I know many people have claimed higher top speeds than that.
What happens when you reach 124MPH? Just nothing more to give? Fuel cut? What RPM are you reading then? RPM is a wee bit more accurate than RPM if you know your tire size, transmission gearing and differential ratio.
What market was your MKIII originally sold in? You have a 7M-GTE in there, correct? Do you by chance have Traction Control in the vehicle?
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