Stock 340 dyno tests?

Dyno tests usually have no alternator, fuel pump, water pump, air cleaner or fan and are run through headers.
True But that's the number were generally talking about Eg.. We say a stock 5.9 magnum is 300 hp engine, that's it's dyno trim number.
And if the dyno has a happy 5% error the results could be wrong by 50hp plus!
Your math is a little wrong unless were talking 1000+hp engine, more like 10-30 hp for 200-600 hp engines.