YotaBoy, I have nearly the exact same setup, minus the rebuild and headwork. I can pull 5th gear all the way to 70 MPH with no problem and I have good torque and power throughout the RPM range despite have light readings on compression. I would check all the little things that could be robbing power and efficiency.
-Check the timing and make sure it's advancing properly
-Check the plugs, plug wire resistence and ignition
-Check fuel flow, air/fuel mix, filters, etc
-Check compresion

I think that you'll find out that it's a bunch of stupid little things that are collectively robbing your truck of power.

 

22r's run better with some exhaust back pressure. The 22r is a "truck motor" desgined to do "truck things." Its not ever going to be fast. However your carb could prob due for fine adjusting. And if you really need a lil more power anywhere between 12-8 degrees igntion timing really helps.


Correct spark plugs and gap?

Loose spark plugs? <-- Compression loss

Heavy Resistance in one of the Accessory drive pulleys?

Piston Ring(s) not seating properly? <-Compression check

Leaking Fuel?

Improperly tourqed Intake manifold(Vacuum Leak)?

Oil wieght too heavy?

 

I rebuilt my 22R in my 81 just about 2yrs ago (15K ago) and did just a basic .020 over and stock everything else except 2" exhaust and Im running stock 4.10s and 30s and I can hold/pull hills going 75mph in 5th no problem and even when I run my 33s I can pull hills in 4th still holding speed... after I first rebuilt it it took me about 2-3 months to tune it all just right to get it where it is today... new motors require a break in period and take some time to get just right

 

Everything on the motor is new basically. New wires coil ect. With msd and accel products. The drive belts are tightened by hand not using a prybar to tighten belt. I'm running 10w30 since its break in period and it's starting to warm up outside. I gapped the plugs right before I installed them. What should it be gapped to?.
There are no vacuum or gas leaks I had already checked.
The timing is at roughly 7 degrees.
The truck has good torque lower down but once I hit 3rd it doesn't wanna go.
I haven't checked compression but it is decently hard to turn the engine over on the compression stroke with a rachet.
But I have a hard time maintaining 50mph up a hill in 4th and being at half throttle
And just staying at about 60-65 mph on flat requires half throttle

 

My owner's manual for my 83 says spark plug gap is 0.031 inches or 8mm. I need to check my gaps as well.

 

Would power be decreased with a bigger gap because mine are gapped at .040 with 8mm wires and msd blaster 2 coil

 

Honestly I'm not sure what that would do.

 

Yes. Too large of a gap causes a delayed burn time, and hard starting. Correct gap to spec.

 

Alright thanks I'll do that

 

Would a .010 gap difference make a noticeable differene

 

I would think so. The gap is supposed to be 0.031 so 0.01 is a third of what the gap is supposed to be. I would assume being off by a third isn't good. Someone please correct me if I'm wrong.

 

Alright I'll set the gap back to factory during work tomorrow. And I'm gonna run the exhaust piping behind the rear tire to give some more back pressure... Hopefully Instead of having the exhaust exit right before the rear tire and it should help with exhaust drone