Depends, is the magic word here.
The PG1 was never designed to take this sort of torque (I think the max spec according to powertrain was something like 177ft/lb). If you hammer the box it is possible to break it with just a standard engine. The differential bearings are prone to failure at about 90k (IME) anyway when used with a TORSEN diff, I really believe this is down to a poor design choice by Rover in moving away from the original spec taper bearings.
That said, with the exception of these diff bearings, bearing failure is pretty rare in the PG1 as they are not really a common weak point. It is debatable as to if a steel cage offers more strength. However if you are building a 300bhp engine, it would be madness (in my opinion) to put that through an unknown box without first rebuilding it and changing the bearings - they are the part that wears the most, and at least it then has a fighting chance.
I have personally put 320 ft/lb of torque through a rebuilt and steel caged NASP spec PG1 box (the weakest of the three), and run it as a daily driver for several thousand miles without any problems. But I was considerate in how I treated it (no dropping the clutch and drag style starts).
Steel caged bearing kits for the PG1 are actually (surprisingly) cheaper than the OE style polyamide or nylon cage bearings. The steel cages are more robust (although more noisy in operation) - however the cage of the bearing is not normally a highly stressed part of the bearing unless operating outside design parameters. Steel caged bearings are far more tolerant to heat though, while the OE spec plastic cages tend to be quieter in use.
In either case, when installed correctly a set of new bearings is going to offer an advantage over an old worn set, regardless of the cage material used.
Personally, if I was building a "bullet proof" box, I'd use a (preferably new) U spec box with steel caged bearings and consider machining it to fit tapers or similar for the differential. Even then you would not eliminate the chance of failure from a split housing, stripped gear or a knackered syncro.