The B-19 was a contemporary of the B-17, which went through quite a few upgrades during it's service life, both having their start in the mid-30's.
For what it's worth, the B-19's max. speed with R-3350s was 224mph with a cruise of 135mph.
With the Allison V-3420 (I meant to say "Twin V-1710 engines" above, btw), it's max. speed was 265mph @ 20,000 feet, it's cruise was upped to 185mph.
So yes, it's performance was not stellar, but again, as I mentioned earlier, it's development was not prioritized, so it's development after it's first flight (which took roughly six years from paper to flight) was virtually zero.
Had it been prioritized like the B-29, then development, modifications and upgrades would have seen a much different outcome - Boing submitted the B-29's proposal early in 1940 and the B-29 first flew four years later, almost to the date. If we put the same priority to the B-19, fours years after it's proposal would have been 1939...