You want to shift after the peak... You want to be in the highest average powerband which would put your peak somewhere in the middle so long as the power doesnt just drop off.
Scenario: You make peak power at 5000 RPM, 250 hp. At 4000 you make 200, at 4500 you make 225, at 5000 you make 250, at 5500 you make 225...
You shift it at 5000 and it drops to 4000. Your using the power band between 200 and 250. Now if you shift it at 5500 your using the power band from 225 to 225, and 250 sits right in the middle.
This is a VERY LOOSE way of puting it, but its been my theory for a while. Why hit a gear right when your cars running its hardest. Let it get past its hardest as it starts to fall off you hit the gear and gets you into the next gear at a higher RPM, making more power. Some might agree some might not... but my stock cammed car loves to be shifted at 5600-5700 and I have proven to lose a couple mph shifting at 5400 even though its done making power at this point.
Now waiting too long and having the car really nose over is bad for it as well. Its wasted time if the car isnt pulling up top anymore. Its all about finding what works for your car! When my motor was stock, 5300-5400 is what it liked!