We have street cars, racers and dragsters all competing together

All-aluminium engines work fine for street and racing cars with a caveat that I'll get to in a minute. For 1/4 mile engines I'll just take HTRN's word on that application.
The problems with aluminium engines are often caused by the end user :- The engine overheats due to water pump or rad failure. The owner is in a hurry to get moving again and refills the system with cold water causing thermal shock. The steel cylinder liners shift due to the co-efficient of expansion that HTRN mentions and that's all she wrote. Major killer of the Rover V8 family of engines.
I think it was Porsche who pioneered the integral aluminium liner with a proprietary electro deposited chrome steel coating, although I could easily be wrong on that. BMW have been using it for decades and I'm familiar with it via high performance 2 stroke bike engines. It's a great system but one more step down the road towards sealed throwaway engines because it's very difficult to recondition.
Regarding the overhead cam design, I'm still not convinced by two big valves and I don't think I ever will be. I spent too much time trying to get power from these kind of engines in motorbike form, where you don't have the option of simply adding more cubes or using forced induction.
I recently got my hands on some professional engine simulation software ( I'm not saying what exactly, because I didn't pay the $15k asking price for it

Those twin valves, the resulting combustion chamber shape and the limitations on compression ratio are a massive bottleneck. Plug in a 4 valve pent roof chamber and the gains are enormous, without a commensurate rise in fuel consumption.