Now that I've calculated it through Hopville I dont' think I was that off. The beer is milky white and I'm thinking it's better off as a starter. I'll try again this weekend and recycle the yeast. The hop additions were so low that I only need more grains and I'll mini mash that as you suggested.
I'd plan on having some extra dry extract on hand. too.
4# of extract is only going to give you a 1.030-1.032 beer at 4.5 gallons. Even mashed, you would have been lucky to get 1.037. Adding a pound of Pilsner Malt might get you to 1.042, but I wouldn't count on it.
A pound of dry extract will give you the option to bump it up by 10 points, if you need to.
It might still be interesting to try and save this first beer by adding some more extract. It will still be beer, and it would make for an interesting comparison to the next beer you make.