I've got an '87 300D Turbo sedan. According to the specs, it has a 2. 65 rear end, and the 4 speed slushbox is 1:1 in 4th. It'll run about 2400 rpm at 60 and about 2800 rpm at 70.
One thing to remember, these beasts were sold and set up for back in the day when we still had a 55 mph speed limit, and as has been noted, they don't have lockup torque converters.
I've noticed on mine during the winter, for about the first 10 miles until the transmission fluid gets good and warm, it turns about 200 to 300 rpm less for the same speed.
The condition of the transmission cooler, the transmission itself, and the vacuum and other adjustments might have a lot to do with it as well. About 10 months ago I checked out another '87 with the same number of miles as mine. The transmission was much tighter and shifted so smooth you could barely feel it, and it only turned 2400 rpm at 70 mph. I took the hint and started doing some work on mine.
One easy mod you could try to see if it makes any difference would be to add an aux transmission cooler, see if colder transmission fluid makes any difference. With the factory radiator cooler, the fluid can't be any lower than what engine coolant temp is - ie, 170 to 180 F.