With the punch setting are you looking to kill 20% of the power or 80% - the setting is confusing and may seem backwards. I'm not sure how this works electrically as far as voltage is concerned.
I run a 2S 5000mah 30C Intellect lipo with my Sidewinder/5700 combo in a Slash, but I use 0 on punch and easily get 25-30min run time with lvc set at 3.2v/cell.
Just off hand teh only thing that seems unusual is your punch setting.