The P42 is capable of 110 MPH operations, more than enough to not interfere with the higher speed trains. And P42's operate on the NEC even now from time to time. In fact for a while, the Silver's and the Crescent used to change to diesel power in Philly, not DC. So there is a precendent for running diesels on electrified tracks.
It depends on how closely the trains are packed, though. A 160 MPH train covering 80 miles will take a half hour. A 110 MPH train will take more than 45 minutes to cover that same distance. So if a 160 MPH train starts a trip across the 80 miles within about 20 minutes after the 110 MPH train does, the 160 MPH train will catch up to the 110 MPH train and have to slow down to 110 MPH, unless there's some opportunity for passing.
Many parts of the NEC are four tracks, which makes this sort of passing not a problem. However, the general expectation seems to be that the typical new HSR alignment will be double track, and all trains will simply run at the same speed to avoid the expense of passing tracks.
I believe NJT has concluded that it is possible to get a dual mode diesel / catenary locomotive which is capable of 125 MPH, and which will be 4200 horsepower in diesel mode, just like Amtrak's P42s.