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Are you building a prupose built drag racer or is it going to be a street/strip car? If it is built for drag racing only, 500 rpm below peak torque is probably fine. I think you would lose a lot of driveability on the street with it set up like that, though. You need to have a high enough stall speed so that your engine is making enough torque to get moving when the tc stalls. I think that is where you need to get a dynbo base line, so you know not only peak torque, but what does your torque curve look like?
If this is going to be a drag-only car and it WILL only weigh 2800 lbs. it will go faster with a 2-spd. Powerglide...probably 90% of the 9.90 cars in NHRA run a glide. With a 4.88 gear your engine should be built to turn at least 7,600 RPM (and up). You'd also want to lose the locker and go with a spool if it's strip only. A strip converter for your setup will be from 4000-4500 stall. If you plan on seeing street duty it gets mighty uncomfortable much over 3200-3500 stall. Deen
It's really a street car that will be raced maybe once or twice a year, which is why the 200-4R trans. From all the inputs I've received here and elsewhere it looks like around 1 3500 stall 9" lock-up converter will be the nominal choice.