Incase anyone is wondering, currently there are only a few ways to exceed 385. These are my findings: Blues/Purples that turn into exotics can take you above 385. Nightfall rewards, Treasure Hordes, and exotic engrams reward 385+. I've used about 6-7 faction/vanguard packages with no increase. Veriks caps at 385 from what I've seen also. I hit 386 last night and it's gonna be a slow grind to 400, but it will be worth it for hard mode. If anyone discovers a way to get a 386+ Ghost let us know!
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Why would you even want to gring llvl 400? There is no point in it because there will never be activity that requires so high level. High light doesn't even help you in lower level activity because damage taken and given is stabilised.