3712 BTU needed (8lbs/gal * 8 gal * 58deg)
11000 BTU used (about)
34% efficiency.
Well, that is fairly close to your original estimate. The 75% manufacturer ratings obvioulsy do not reflect delivered efficiency. Is a burner really only 75% efficient itself?
Do you by chance have an aluminum pot to compare? Thermal conductivity of Aluminum is 237. 304 stainless is only 16.3. I think this would have to make quite a difference. I think with some pots they sandwich a layer of aluminum between stainless on the bottom for this purpose.