1150 sustained is too high for my engine but with your probe in the manifold and not up at the turbo, it's probably reading a little higher than mine, so maybe it's not a biggie. Mine is mounted in the turbo mount just before the turbo.
My '86 has had a turbo since '87. Banks recommended no more than 1150 in those days and I stayed at 950-1000 sustained. Even at that, when I recently overhauled the engine, one that has done a lot of hard work but has been well maintained, the heads were a mess. Probably from too long at high EGTs. Do you know for sure you pump hasn't been cranked up? Also, does you engine still have the crushed downpipe. I have been told that this pipe tends to make the EGTs higher than they normally might be.
Why not check your drive pressure (back pressure before the turbo)? Pull your EGT probe and instal a fitting and about 18 inches of copper line. Find a 0-20 psi pressure gauge with the biggest dial you can find, and run the hose out so you can have the gauge hanging off the mirror. Make a few full power, rev to the limit runs and note both drive and boost pressures.
Ideally, drive and boost will be equal. Even better than ideal is when drive pressure is less than boost (that's truly free hp then!). If drive pressure is lots higher than boost, then either your exhaust is restricted or the turbo is too small. Most people will accept a 1.5:1 ratio between drive and boost pressure (10 psi boost = 15 psi drive) but above 1.5:1, you are building up a lot more cylinder pressure. You will usually see higher drive pressure on a wastegated turbo, especially if you tweak the linkage to get more boost. One engine developer that worked on our engine back in the day told me that this was why many of the early turbo kits used non-wastegated turbos because they flow better and create less drive pressure (generally) than wastegated turbos, even if they don't make a lot of boost down low.
I had both wastegated and non-wastegated turbos on my 6.2L GM and the non wastegated had much lower EGTs at the same fuel setting and load. The difference was that the low speed performance of the wastegated turbo was noticeably better.
I hope you'll, or someone, will do this so I can compare your results to mine... wastegated turbo vs non, to see the difference.