Ok. I was referring to 7.2V as supply input voltage. I get where you are coming from with 5V as my regulator output.
What are you using for your simulation? Is that where they ideally use rms fomulas, etc..to arrive at 232 mA.
If so, then I might need to change the regulator.
7.2V comes from having 2 batteries in series. My first design had one 3.1V battery as source and it worked. I needed to use the regulator because the amplifier was rated at 5.5V Vdd max.