Need Dyno Opinions Badly

Very briefly. My son's 87 Merkur XR4 converted to a 5.0 w/ AOD. Engine has F303 cam, mild cylinder head port/big valves, underdrive pulleys, headers, etc. Two intake manifold/carb setups used. One is the Edelbrock w/dual Edelbrock 600s - the other is the Weiand Stealth with a single Edelbrock 600.
With either intake setup, the max rear wheel HP is slightly over 200 w/torque around 210-225 from idle to about 5500 rpm. It seems to me the numbers should be higher, although the car runs very strong and never stops pulling. On the last dyno pull, the dyno was set at 109 mph and the car shut the dyno down as it was still pulling strong at 109 in 3rd gear as overdrive was not used. Various carb jetting and ignition timing changes made very little difference and my son is a tad upset over the numbers as he feels they should be up in the 250 or so range at the least. Any suggestions or comment is greatly appreciated as I am stumped over what appear to be low numbers. Thank you in advance.

is that AOD still stock? they tend to suck up a lot of power. my 5.0 (mods below) ran 15.35 before the exhaust, has an AOD and the stock rear gear (2.73). the motor is probably making aroudn 240 horse but the drivetrain sucks it all up. i'd start looking there.

i also agree w/ nuts...the aod and aode are major horse vacuums