Actually RS-232 can go higher than 19.2k. I know I have used them as a standard cable for Dedicated 56k circuits. Greater than a T1 I have always used V.35 cables.
The problem you have is the interface you are using. The NM-8A/S can only go up to 115k. You need to use a normal serial interface like a WIC or NM-4T if you want a higher clockrate..