> down at 10Hz, you end up with 4% THD
There should not be any 10Hz sources in a classic studio; if there were, the distortion and smoke in transmitter or disc-cutter would mask any distortion in the studio. (Heck, we didn't have any 10Hz LAB-sources when those transformers were introduced.)
> output level also rolls off starting at 200Hz, and is -1db at 40Hz and -3db at about 20Hz.
Perfectly acceptable in many classic studios. Not much music or voice has any real strength below 40Hz. If you really wanted 20Hz, there are better choices than the utility UTC cans.
However, I do think you are soaking the core. Do you need to?
Think. +20dBm is ~60V and 4mA peak on the 15K side. You "could" run the tube as cold as 4mA idle, swing from 8mA to 0mA, and make +20dBm. Swinging to zero current is hard and gives large distortion; but 8mA idle swinging 12mA and 4mA is a pretty clean swing. In light of the 8mA rating, I'd try idle currents like 5mA or 7mA and see what it does to midband THD at +20dBm and what it does to bass flatness.
Yes, +20dBm. +4dBm is a nominal average. Peaks will be 16dB higher. For good sound, THD should be very low at +4dBm and not-large (say several percent) at +20dBm. If it soft-clips at, say, +12dBm, you can't pass a "+4dBm" signal cleanly.
> an odd dip in the frequency response at 40KHz
There is an internal resonance in the winding. That's the drawback for using windings higher than roughly 10K. A lower plate resistance would reduce that, also improve bass response, but lower plate resistance normally comes with higher current, which is sure to droop the bass. NFB from the plate might help, but you have no place to put it. I'm sure the designer felt that -4dB an octave beyond the Audio Band was not a serious fault, or not worth the expense of a much more complicated winding technique.