This isn't really a rice thinng but a guy at my school has a 68 chevelle with a 350 that he just had dynoed. It is making 242 at the rear wheels but the whole time he has been claiming 450 at the crank. I asked him if he was disappointed and he still said he should be making 450 at the crank!
I was surprised at this remark because he seems to know a lot about cars and he built the motor himself.
Later