Strong 1 master clock pulse at 4.2V.
Datasheet https://datasheet4u.com/datasheet/Zilog/Z8470-656613 indicates clock should be >Vcc-0.6, i.e. >4.4V.
That is sufficient to account for flaky operation.
It also indicates Icc 100mA max, so your 40mA(?) would be well within spec.
The CTC VOH is 2.4V and 1.8mA.
The DART output VoH is 2.4V @ 2mA.
So I don't know where in that day and age is't getting >4.4V, it's not from it's own family.
I set it back to 9600 and went on with things rather than "Min/Max" which was never the intent. It's not exactly 100% reliable even at 9600.
I did have to fix an issue. While simple things like OVRRUN the DART clears the error as soon as you read the data, other errors upset it more "sticky" and you have to go and reset it by setting 3 different bits. So I added that which at least meant I didn't need to reset the board every 10th upload.
I also have custom made UART leads, which are not looking the best. Those crimp strips were never made for humans. Some leads I have made are still working fine. Others come apart or never fit the JST header properly. At the moment I need to lift the IO board to get to the ROM chip ZIP socket underneath. This means the UART leads are constantly being disturbed and those homemade leads do not like it. "Why you not working now?", "Oh, the lead fell out."
I got the bare minimum "monitor" app written. Just simple things like "read some memory", "write a memory location". Print 1kb of strings from address. Write to raw IO port (yes, you can reconfigure the DART running your console and ... end it), Read from a raw IO port. The IO read/writes are for the FPGA integration I have upcoming. Should make it a lot easier to test that without having to write ASM and upload every change.
Maybe the weekend I want to remove the last need to use the ZIF socket and write a flash rom programmer. I already have the protocol "for ease" worked out. I use the existing UART loader to upload the sector to be written to RAM. Then load the flash programmer into RAM as well and run it. If done right the Z80 can be kept out of ROM addresses long enough to allow the flash to erase and then write the sector. Without relocating my ROM routines (no thanks), I will be mostly "bare metal again!"
I might do something fun instead, I haven't played with sending terminal control characters yet and doing goofy stuff in the console.