I would have to ask what constitutes Car Life's, or any magazines for that matter, top speed test. Is it 1/2 mile? 1 mile? 3 miles? I seriously doubt any of them loaded up and headed out to El Mirage or Bonneville to do that test, where there is much more run out space for a top speed run. Was it something like Maxton where they did a standing start, 1 mile run? I could see that keeping speeds somewhat reserved, yet still being within a distance they could achieve on some desolate highway, which is probably how they conducted those tests.
Of course once you do get unlimited run out, then you get to deal with the aero issues. Sure, you can get one of these old cars up to 130 reasonably easily, and touch 150 if you push it, but the nose gets light and steering gets vauge. Much beyond that is not going to be safely possible in a stock type car. Once you drop the height, slow down the steering ratio, add some weight, and redirect some air, them maybe 165-170 could happen if you got enough oats in your engine. Sustained speeds beyond that aren't going to happen without major work, hence the reason for the winged cars.