More dyno drama today with Joel's 392 Hemi. Joel got here at about 1:00, did an oil change on the engine, checked it all over, and was ready to go. We filled the engine with water and it fired right up. After warming up we ran another pull to 6200, and saw about the same results as before. Next we tried a pull to 6600, and the engine was missing badly at the top end. Joel has one of those MSD ready to run distributors on the engine, along with an old time Malloy coil (to complete the vintage look). The Mallory coil has a ballast resistor that it came with, and Joel had hooked it up according to the instructions, but questioned whether or not it was necessary, despite the instruction's insistence that the ballast resistor absolutely had to be used. After missing at the higher engine speeds, Joel decided to bypass the ballast resistor. This made a big improvement; the next pull was much cleaner, with only a couple of minor stumbles. But since we still had some missing, we decided to put my MSD Digital 6 and HVCII coil on, and just use the MSD distributor to trigger the MSD Digital 6. This totally cleaned up the pulls, and the engine pulled strong to 7000 RPM with this ignition setup.
We also spent some time experimenting with timing, and found that 30 degrees total is what the engine liked the best. It was still not making the power we were hoping for, though. Next we decided to cut the valve lash in half, to .010", but after Joel got done lashing the valves, we tried to turn the engine over and it went 1/4 turn and stopped. Joel and Jeff investigated this and found that we had water in the #8 cylinder! The engine was probably hydra-locked at this point. Joel and Jeff pulled the plugs and spun the engine over to spit out the water, but in the end decided that the heads had to come off again, because the re-seal on the head gaskets that they did on Saturday night was obviously not sufficient. So, we have not yet had a chance to run the engine with the tightened up valve lash.
Here's the best pull so far:

Tonight Joel talked to his 392 Hemi expert, and learned that the 2X4 manifold that is currently on the engine is not a particularly good one. The single 4 intake Joel has was recommended over this. The plan from this point forward is to replace the head gaskets, making sure that they seal correctly this time, and then test with the single 4 intake to try to make more horsepower. I will update this thread when we have more dyno data...