I'm with Flatjack here, the pushrod dimension you gave is what it's ment to be. Something else is throwing stuff off. Find that and fix it.
But do report back with your findings, always good to know what's going on and what the problem is/was, could be of help to others.
5/16" seem a lot of wrong, you say stock manifold, iron 8BA? What fuel pump stand? What pump, you say vacuum, but is it stock Ford?
The cam, is it ground by isky on a new core, or reground on a stock core?
lots of questions I know, lots of answered questions help pin down the problem.
I do feel, in contradiction of what I first said about fixing the actual problem, that if it's the cam that's the issue, if it were mine, I'd shorten the pushrod, rather than change the cam. 8BA pushrods are 3 pieces pressed together lightly, they seperate quite easy with a bit of a twist.
Martin.