360 buildup to 408 & more

Hi Guys: I'm new to this forum so bare with me. I have a 1965 Coronet 440 model. It came with a 318 so I took out this tired engine and thought about my options. Sinse I have four other MOPARS with small blocks I decided to continue this proven platform.
I purchase a 360 block & bored/stroked it to 408. I used the forged Eagle rotating & a .508/.508 Crower cam. For the induction, I purchased Indyheads "Six-Shooter" carburation with the six-pack aluminum intake. For the heads I went with Indy's Edlebrock which were reworked so I could have 2.05 intake valves.
My choice of tranny was the 518 so I could drive car on the freeway with the overdive option. I used a 2,500 stall converter with 4.10 rear.
Sorry if I bored you with the above jabber. Though I built this car a thousand miles back, it just didn't seem to have the horsepower I expected?
Last week I had the car on the Dyno and it topped out at 357 HP @ the wheels. FINALLY MY QUESTION! Do you think this 357 HP output is a reasonable number? The torque is around 470 lbs. Here in San Diego, we don't have a quarter-mile track to test it to get the numbers though this car doesn't feel near as strong as a 1970 Swinger I have with the 402/435 hp crate motor I put in it.
Any answers woyld be appreciated. I have $45,000 in this car so I want to get the most out of it.  

357 hp at the wheels isn't too shabby, but I do believe there is more to be had. You're losing quite a bit of power through the overdrive automatic transmission, and the .508 cam and your 2,500 converter may not have been the best choices.  
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Some people are like Slinkys; they're not very useful, but fun to watch when pushed down the stairs.

RBoling is right on all 3 items. A solid cam would be a much better choice and probably worth about 25-30 hp. Converter in the big car, nothing less than a 3500, my friend actually runs a 4000 in his 408 and is quit happy with it.
Overdrive, in my opinion is a waist of time, especially if you want to get the most out of the engine package.
I have a B body Satellite with a built 360 getting 480hp at the crank, or about 375 at the wheels, no overdrive just a 727.
I use a Dynamic 4000 stall converter. Car runs 12.5's at 108 and gets 18-20 mpg.
All this with a 4.30 gear and a 275/60/15 M&H tire when cruising. A 28x10 Mickey Thompson drag slick when racing.
Don't forget with the added weight of a B body the engine has more weight to push around and it will need all the extra help it can get.
Doc  

torque is very good. for more power play with jetting, timing, air filter, exhaust etc.  

btw u need to go to a solid lifter only if a hydraulic is a rev limiter, small mopars rev good with hydraulics and big 408 motors do not rev high. a solid does not always make more power than a hydraulic. what rpm ?  

there is nothing wrong with an overdrive. at the track with a 518 use 1 2 3,same as an old tourqflite, and on the dyno u are in 3 , right? not od. and on the highway in od to cut the revs down with those 4.56 gears. also on the dyno a 2500 or 3500 conv. is not relavent due to the fact that the 357 hp was over 4000 rpm right? and details are not boring-they are important.