Don't overlook the possibility of spinning the water pump too fast.
Water has to remain in the radiator long enough to transfer heat though the tubes and fins to the air. If there is not enough dwell time, the water will not have an optimum amount of heat exchange. This can be a problem with high flow water pumps, especially when used with smaller pulleys. If your setup is like this, you might try going up a couple of inches in diameter for the fan pulley.
In fact, for some air conditioning applications, particularly MOPAR, a smaller impeller was used to slow the water flow through the radiator, because the air conditioning condenser preheated the air, reducing cooling. I'm not familiar enough with individual SBC applications to know if GM used a smaller impeller like MOPAR, but, a larger diameter pulley would accomplish the same thing.
A rare out of left field problem could be a mismarked pump. You said it's supposed to be a reverse rotation. But, there have been cases of the wrong impeller being used, or some parts jockey puts two pumps on the counter for a customer to look at, then accidentally mixes the boxes up.