Hmmm...
My guess is the same as yours: that you miscalculated your TAS. Winds figure into it, of course, but it sounds like you're not sure where you get TAS from, or what you should have indicated on your ASI and your tachometer for your target TAS.
I use a whiz-wheel, so I don't know where you went wrong, but I do know that TAS is IAS corrected for pitot-static installation(which is hardly a factor at such altitudes and speeds),pressure altitude and temperature. Humidity doesn't figure into it very much, either,apparently... temperature is what makes the biggest difference in density for a given pressure altitude.
You should also fudge the book numbers a bit, unless that plane just finished its break-in period right out of the factory... those old trainers are always slower than the book. Always. Hell, they were probably not as fast as the book says when they were
new.
For what it's worth, my 1968 C150 (Continental O200A) Pilot's Operating Handbook shows that the "sweet spot" (closest margin between fuel burn and airspeed) for 5000 feet at 2600 RPM, which should yield 113 MPH TAS at 5.3 gph at standard temps for that altitude. That's 98 knots.
That old 150 I used to fly did not quite deliver as advertised... I usually planned (at altitudes up to about 5000) for 90 kts indicated; for typical flying in good weather , winter or summer, that would get me 95 to maybe (maybe!) 99 knots TAS at 5000. Just shy of the book, generally. Never worried about a minute on checkpoints during my training (you can't constantly re-calculate GS on such short legs- the air is unruly), unless of course I got so far off-course that I was wandering around looking for it...
