I know guys don't like to gear it, but that oil is one of the biggest horsepower thieves out there.
The oil you have is fine as a base oil. You need a quality additive, OR you need to spend way more on oil per quart.
I pay about $22.00 a quart for oil right now, and I do it gladly, with a smile. After thousands of dollars of testing, I can tell you oil does make a difference.