Thanks for putting my knowledge (or ignorance) out in the public for all to see, you're a real pal Ted (LOL Good question, BTW)!
While I'd considered that the pitot pressure was lower than it should be, I reasoned that considering the relative position of the two, it was more likely that the static pressure was high.
However, at your suggestion that my answer was very near correct, I would reason that the manufacturer understood that they had to choose where to calibrate the ASI for IAS=TAS, that factor being mostly influenced by AoA, which has a direct impact on speed. They chose somewhere near cruise. This is also the reason why a few aircraft have a movable pitot, controllable by flap (and/or slat) position (I was on a commercial flight and saw this once - don't recall the aircraft type though)
But this still doesn't answer the question as to why the pitot pressure is low. For this, I'm not satisfied that Bernoulli's principle (the pitot acting as a venturi) is the culprit. So, I'll do some research online (BTW- This thread shows up in a Google Search -LOL) and get back to ya.