Bud, Man, 2400 RPM unloaded is pretty short on power.. You've looked at almost everything else (elbow, intake, injector, timing, valve clearance, etc) and it is not smoking from unburned fuel.. it isn't getting enough fuel.. so the pump may be worn .. Another thing to check is the fuel delivery rack gear.. it rotates a part inside the pump that makes the pump deliver more fuel to the injector. It is moved by the governor so it has to be free to move and its travel must not be restricted, it must move very freely, and it must be set per the manual..(match marks).. If the rack were restricted by sludge or deposits, it may not go to full stroke .. which would limit RPM and not smoke, just like a worn pump.. The pump outlet "delivery valve" can have a bad seat and also limit the stroke volume since it would decrease the output volume. I'd be interested to hear what ya find.. Ya might want to pull the pump and take it to a good diesel shop ?? or pull it and do a look-see yourself while she is on the hard??