Dyno'ed My 360..it's a pig..what next?
From reading the build, it is what I would expect. The 240HP guess is close to accurate for at the flywheel. The cam is small and about what it would do with those parts. I used a Crane Cam 216/228-,454/,480-112 cam it and was a fine driver for the 318 pumping out high 14's at her best with 3.21's on a stock tire & converter/trans.
Raise the compression if it is low and as said, cam, carb after that.