1968 Match Race ~ Barracuda 340-S vs. Camaro SS 350

Was GM fudging their numbers or was Chrysler?

Both. Why? Back in the day some guys (single, under 25) were paying more for car insurance than they were in car payments. The car companies were all leery of trying to sell a 300 hp compact car with that kind of insurance burden at the end of the 60s. (~ 10 lb / 1 hp). IMO, Mopar played it smart and left room for development (AAR-T/A) and still keep the HP under 300. It was pretty clear that if Motown went into a horsepower war in the compact class, the sales numbers wouldn't justify the development costs.

LOL. I recall one guy back in the day (owned a 68 Cuda 340S, 4-speed) who claimed that the only way Mopar could get 275 out of the 340 was to disconnect the linkage to the secondaries.