Did they do the dyno in 5th gear? Some tuners won't realize it, but 5th is the 1:1 ratio. The car will lose a little bit of power through drivetrain loss if you don't use the 1:1 gear.
The Vorshlag mustang, if I remember correctly, dynos at around 430 rwhp, with only a custom intake, exhaust, and tune.
Also, it depends on what style dyno you ran on. The Mustang Dynos tend to read 10ish percent lower than a comparable DynoJet, I think.
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