First, the number of tire revolutions per mile must be determined. The Tire Rack usually gives this directly for tires they sell, but they don't have any of size 185/70-15. So I took the average for a number of tires of size 185/70-14, getting 858 rev/mi. Dividing this into 5280 (feet per mile) gives a tire circumference of 6.15 feet, or 73.85 inches. Dividing this by pi gives a wheel diameter of 23.5 inches. Your wheel diameter is an inch larger, or 24.5 inches, giving a wheel circumference of 77 inches, or 6.417 feet. Dividing this into 5280 gives about 823 tire revolutions per mile.
One can also calculate this directly: the width of the tire is 185 mm, so the height of the sidewall is this times the aspect ratio .7, or 129.5 mm. The sidewall appears both above and below the wheel, so the wheel diameter is 2 times 129.5 mm + 15 inches, or 2 x 129.5 mm + 381 mm, which is 640 mm, or 25.2 inches. Note that this is larger than the 24.5 inches above, because there is some give in the sidewall. That is, the effective sidewall height is 120.65 mm, or about 93% of the calculated value. (This percentage is consistent with that for other tire sizes I've calculated). In any case, I'll use the above figure of 823 revolutions per mile.
With a 3.27 rear axle, the engine revolves 3.27 times for each tire revolution. Multiplying this by 823 tire revolutions per mile gives 2691 engine revolutions per mile. At 3500 rpm, the car speed is then 3500/2691 miles per minute, or 78 miles per hour. By these figures, a car speed of 72 mph works out to 3229 engine rpm. If you instead use the calculated tire circumference, this works out to 800 tire revolutions per mile and a car speed of just over 80 mph, which is even farther away from your number of 72.
Your tach might indeed be off -- you could check it using any cheap tuneup tachometer. I also calculated whether severely underinflated tires could result in your numbers, but that works out to a sidewall height of just 96.7 mm, or about 80% of normal, which would hardly go unnoticed.
Chris