Disappointing dyno results

For what it's worth, I don't see either the cam or the carburetor being the problem. Stock cam, stock carb, should make stock horsepower. Unless the cam is not degreed properly, carb has wrong jets or the secondaries aren't opening all the way because they are not adjusted correctly. Or the ignition timing is way off.
Hey 65 Cuda 340. Carb, number wise, is for 68 or 70 340 4 speed. Can't remember which. May be someone played with it before I got it and changed jets. We made sure secondaries were opening fully. Will ask operator about timing. Was curious myself where that was set.