The more power you can make with less timing, the better. Getting fuel to vaporize will reduce spark advance requirements.
For now, unplug the vacuum advance while you set timing. 10 degrees initial at 800 RPM is a good baseline to start with. Ideal, learn how to read the spark plug and it can tell you all sorts of things... including if the engine is happy with the timing setting or not.
a little wouldn't hurt, but I would try just setting the initial at 10 first.. they make special springs to mofify the advance curve..
Added: with todays gas, you can't go much more than 10 without risking detonation..
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