Sounds a bit cold to me. I'd be turning my pump up a bit more personally. My understanding is that you want to have the temps around 800 sustained, and no hotter than 1100 with un-coated pistons while under load.
Boost is largely dependant on exhaust temperature, so if you are running the engine fairly lean, you won't make much boost. The more fuel you put into the engine, the hotter it will run. On a stock 6.2L, I'd stick around 7 PSI of boost to be on the safe side. It isn't so much that the engine can't handle more pressure, but more that without an intercooler of some type, your exhaust temperatures will get too high.
Again, turn your pump up a bit and keep an eye on both the pyrometer and the boost meter, you want to adjust the fuel until you are getting good temperature and good boost, but not so hot that you start melting pistons. When you get it tuned right, you should have a bit of black smoke when you put the hammer down, but it should clear up as soon as you start making boost. To test your temps, find a long grade to crawl up, or otherwise labour the engine and make sure the temps don't get too high.