Just going by Jeremy's game summary, there's at least another 15k from deaths, another 10k from start and then about another 8k or so on the last 2 levels (hypothetical, based on running average), so that's 33k more than 1.19 or 1.223
I will go so far as to say that a 62.5 level average is achievable with great randomness and tons of barrel transition-rejump risks, great spring leaching, all bottom hammers on pies.
There's a few risks and buffering strategies Wes isn't using, as well as a few others that Dean wasn't using during his 1.206, this throws another ~17k in the mix...
So the cieling number in my eyes is 1.24ish with current strats, but hot diggity the work load is astronomical at this point, fighting the limits of human perseverance as well as the RNG Lotto; hypothetical-math and reality are two different beasts.
Also, to actually answer your question, I think they're both planning to take breaks, but who knows! Gotta wait and see!
Final Edit: Using the realistically achievable maxes; a 145K start, 35K in death points (basically 3 good sacs, lo
) and then a 62.5 level average (stupidly high) you would get 145K + 35K + (17 x 62.5K) = 1242.5K + 0.7K (22-1) = 1243.2K = 1.2432M