505 stroker fresh off the dyno - Power seems low? Thoughs?

Further thoughts.
I doubt the pistons are down in the bore because would likely need a LOT more than 30* of timing for best HP.
Your lash can be tightened up considerably. You would normally allow about 0.003/4" for expansion with alum heads. But the TF heads are tall & because they use pedestals to mount the rocker shafts, you need to allow more [ ~0.005-6"] than you would for a rocker stud head like a Chebby. I would lash at 0.006/0.008" cold.
Don't have the TF flow #s in front of me, but seem to recall about 300 cfm @ 600 lift.
For a NA engine, a rough guide to expected HP, you double the flow number; this assumes the rest of the parts are sized to work together. So you are not too far off.