93% conversion efficiency is very typical for what I've seen over time. I haven't posted the data yet, but before I left on vacation I did another mini mash experiment with new vs. old grain. I did a single infusion mash in my vacuum coffee mug, the mash started around 155 and dropped to 150 over the hour. The old grain hit a first wort gravity of 88.9% of Kai's #'s and the new grain got to 94.4%.
I think, as Brauer alluded to, the chart Kai put together has some averaging involved. If you have base malt with a high extract potential then you might hit 100% or above, but if the extract potential is on the lower side it may look like your conversion efficiency is on the low side even though you had good conversion.