I would set all in timing to 36 degrees as a moderate setting. Choose a shift point (didn't give cam info to determine valve float point), and from that point keep these two variables constant as I jet the carb for best mph.
After carb sweet spot is pin-pointed, I'd see if I could make anymore power by increasing the timing 2 degrees at a time, but better to be safe in this area. Back it off if you start to lose mph, see flecks on the plugs, or hear any detonation.
I personally have always kept my shiftpoints low, say around 6,500 or so. I don't feel I'm losing more than a hundreth in ET, but hopefully helping my motor's longevity in keeping the rpm's down.
The car has a glide w/ a transbrake. The converter flashes to about 5400. The shift recovery point is 5900. I think I'm about 4-600 low on the flash RPM from where it needs to be. The builder was looking for about 5800. I guess the big cam killed the midrange and it ended up flashing a little lower. I plan on having it adjusted after I get it tuned a little better.
The converter was built by Cameron @ Torque Converter Services in Columbia, SC.
I plan on spraying the car eventually. I have another converter that was built for nitrous. I really want to get the car into the high 9's on motor. I just got back in the seat after a 7 year break. My last car ran 11.40's, so this has been a blast.
...did you ever try shifting at a lower rpm, say 6500-6800. Is it pulling hard to 7200? It just seems like a lot of rpm, and if the engine hasn't been dyno'd you wouldn't really know where it makes its peak hp, who knows you could be going 500rpm past the peak power, which just uses up track.
Just my .02 :-D
I didn't make any changes to the engine tune. I chased an intermitent miss and not starting problem through out the year. I put in a new battery which seemed to help, but the car would still not fire at times. I eventually changed the coil and problem solved. I also added an alternator. First pass after those changes was the 9.98/132.50 but that was in cool fall air also.