Is my engine performing as it should??

To me, it looks like it is running just fine for what it is. That is a pretty small cam and carb, so the motor nosing over at 5500 is to be expected.

Are you sure you have double springs, or is it a single with a damper. If it is a double spring, then it is way more than that cam needs. Also, if the heads are fully ported you could really benefit from a bigger cam.

Sorry, but 380-410 hp is not realistic for the motor as it sits...maybe 300-320 hp. When you go to the dyno, be prepared for a shock (most people think there motors make WAY more power than they really do). Just remember, the dyno is nothing more than a tool for tuning.

Yes, trap speed is a VERY good indicator of how much hp you are making.

13's are not out of reach. You could probably get there with some tuning (sticky tires would be a big help if you're spinning them off the line).