What kind of instrumentation do you have on the engine ?
What fuel flow are you seeing during that initial WOT climb ?
Has the MP/FF gauge been tested for accuracy ?
With the weights you were giving, you are 310lbs above the originally certified weight for the aircraft. The book numbers are based on a 3600lb plane. It sounds like you have an IO550, tip-tanks and VGs to get to your current MTOW. With the exception of the IO550, none of these modifications add any power, they just shuffle around the numbers on the paper. We have a MTOW of 3849 with the same HP. Loaded to the gills, the plane likes a fair amount of runway and the initial climb is similarly shallow. By changing the STC on our Osborne tanks, we could increase our MTOW to 4024. We decided that nobody in his right mind would want to routinely fly the plane at that weight in the summer.