Dyno'ed My 360..it's a pig..what next?
I agree with all on that its a fuel/timing, but I don't think you need a 750 cfm carb to make 240 HP. I have a very similar 360 with a 570 cfm Holley Street Avenger. I got my carb from Holleys refurbished shop on EBay for less than $250 and it was night and day compared to the AFB I replaced. Then get it to a Dyno shop that knows Carb tuning, can adjust your advance, and work the timing. I don't have the sheet in front of me, but my rear wheel HP went from 195 with the AFB to 247 HP (and 320 TQ) with the new carb and Dyno tune.