way too slow at drag strip! what should it run?

Get the timing adjusted to 30-34, fuel pressure up to 7 (some gages will read low once they get warmed up, so check your pressure again cold), and try leaving at idle or a lower RPM. I have the same converter, and my car does better leaving between idle and 2k than if I try to leave at higher RPMs. Once you've done that, start looking at getting the suspension dialed in. The spring eye should be right below or slightly to the rear of the chassis mount. A snubber or caltracs would also help. You should be pulling 1.6X 60' times. As already stated, 4.88 gears won't help you in the 1/4 with that size tires. Stick with the 4.10's, and 4500 stall is also a bit much for what you have. You'll get no difference with race gas over pump gas unless you have the timing bumped way up. I ran back to back pump gas and race gas for S&G, and got the same ET with both. I shaved .25 off my 1/8 mile time just by getting the suspension dialed in, and I'm not running caltracs or a snubber, but have SS springs and a Dana 60. Ditching the 770 vac secondaries and going with a Holley 850 HP will help.

Are you running 1.5 rockers, or 1.6?