I think you guys are confused. Nobody's converter here flashes that high. Sure it jumps to 5000rpm pretty quick on the dyno, but that is because you are already in 3rd going 50mph when you try to lock it up AND it's probably slipping the tires to boot. You all need to datalog your cars AT THE TRACK before starting these conversations. My 5.0 "flashes" as you say on the dyno to about 4800rpm, and anytime you mash the throttle on the street it hits 3500rpm instantly, but at the track with slicks on and from a stand still it flashes/stalls at 2800rpm. Period. You can't make it go over 2800rpm without moving the tires first.
Not saying some of you couldn't use lower stall speeds, but suggesting that it would be helpful to use correct terms correctly and to be quote actual data rather than perceptions based on fluid conditions. I don't think the converters are eating up as much HP as you guys seem to think either. Brian Whitfield's 4.2 routinely makes 380+rwhp through his AOD and runs low 12's. He has a loose converter too. There are others as well.