I would guess that you are indeed missing a lot of power, but by your own first post you have a lot of suspects for where its going! Carb mixture off and not enough timing are definitely big problems just by themselves and should be fixed before you get back on a dyno. Also was the cam degreed in, or just slapped in wherever the peg went in the cam gear? That can cost a lot of power. Bent wheel? On a dyno? Why even bother? Granted a bent wheel won't cost you much real-world performance, but on a dyno where any slippage on the drum shows up as missing horsepower, I would definitely get that corrected (at least put the bent wheel on front!) before trying again. Also I wouldn't expect great things from "bone stock" 452 heads. They're OK, but without a little clean-up of the ports and bowls, you're counting on factory casting quality variations to NOT cost you some power, and that's a gamble I wouldn't take if I had an engine apart already.