Two friends and I went to the dyno on Friday. I've got movies of the power pulls and 1/4 mile runs on my webpage
http://www.jbperkins.com/dyno_11_10_2006/index.html
The other two cars were a 1996 Trans Am 383 and a 1971 Buick Skylark 455. I've got the peak numbers listed on the webpage and I'll put up the dyno charts when I get them scanned or get the data and plot it. This was a Mustang dyno so the numbers are a bit lower than you'll see on a DynoJet. Even assuming the most conservative drivetrain loss factor (18%) the motor is making the advertised power. The guys at the dyno seemed to think the LS2 was under-rated by GM to keep previous year Z06 owners happy. Sounds reasonable to me. I used to do tuning at a shop that had a DynoJet. They used 18% as the correction factor for an A4. That number was accepted by the F-body community back when I was into those cars. The Mustang dyno guys said to use 25% to estimate crank HP on a A4. So for 18% I would have 400 crank HP and 25% comes out to 437. 437 sounds high for a box stock motor. Anyway, it's a baseline. The AFR was 11.8 around 3500 RPM and 11.2 at 6000 RPM. There is some power to by had by leaning it out a bit.