Less torque than that. My bronco'* 302 is 270ftlb, with 185-205HP (depending on where u read it).
It'* about 240-250 torque range.
Similar problem on my wife'* 90 merc, when she had it. What did i do... what did it do... hm...
I think I did a complete tune up on it. Plugs, wires, cap, rotor. Also, we took off the throttle body, and plenum. Hadda fix the leaky plenum gasket. So i cleaned everything I removed.
It does have 8 separate fuel injectors, fired 4 at a time. there is no MAF sensor, it'* speed density. Check the plugs wires and distributor cap/rotor. Also check the timing. You can unplug the spout connector, start the engine, set the timing. I think the factory setting is 10deg BTDC. Shut it off, plug spout connector back in.
Could be dirty fuel injectors, or a weak fuel pump, or a bad fuel pressure regulator, clogged cat (eh, maybe not), clogged fuel filter, hole in the fuel line.
Just some idears.