It is not what your max should be, it is what it is that counts. If you get to 194 on the bike, your max is not 178, whether it should be or not.
I have a friend who runs at the club - he is a better runner than me but when I am at 160 he is at 185. I think his max is 200 - he did spend £100 on a VO2 max test. He also cannot run at 70%. To him that is 140 and he just cannot get that low whilst running - he is at a very slow in-efficient jog.
At a heart rate of 127 I cannot imagine enjoying a run very much, as I said it would be better to walk fast. By the numbers 70% is 127 but it no way feels like 70%. My heart is already at 25-30% when resting so jogging only a little bit more than doubles my heart rate of when I am sitting watching the fish swim around the tank. Maybe I should buy a book! I see there is an idiots guide to heart rate monitors - that must be the one!