360 does not seem to be making power and is slow in the 1/8. Need help and/or suggestions

Some easy things to check, make sure you don't have any plug wires too close to one another (specifically, ones that are in line on the cap, don't let those wires touch if possible). Many years ago I had a miss up high in the RPM range that was nothing more than that....easy fix.

Check jetting, vacuum leaks, does it get full throttle, fuel pressure, etc.

While I agree it should be faster, I would not be too surprised if it ran low 8's with the current setup. To me, it sounds like you have a few things going wrong at the same time.