I don't think you're ever going to see 30-35 MPH with the M600 with a drivetrain even remotely suited to MTB, but it's definitely the right weight for eMTB motor (still, only 3.3lb lighter than Ultra, you could achieve similar weight reduction elsewhere in wheel-build, choice of battery, fork selection, hardtail versus FS).
For road speed and performance the Ultra is really ideal, that's what I use mine for mostly. top speed is about 65 Km/h with a 50T chainring (this is not a good chainring for MTB, but it's ideal for road speed). Higher top speeds need those big rings and lots of extra wattage... Not to say this is impossible with the M600, but you'd have to trade almost all offroad capability to get it.
Then again if an aftermarket controller is pushing the M600 up into the 1.7-2kW output range, it's a fair match against a stock Ultra motor (in favor of M600 due to less weight, in favor of Ultra for long term motor lifespan)
edit: one further concern for M600 top speeds, is the motors RPM output... It appears to be much lower than the G510 Ultra. More data needed, can anyone confirm this for me?