You could start with about 8*. Advance until you get spark knock when you drive it and back off a couple of degrees. i wouldn't go much more than 12* base timing though.
I have similar engine but it has HEI.
All of my driving is at 7000' asl and up. I screwed around with AFB jetting, rods and springs and got her leaned out, then tweaked the timing 2 deg at a time until I ended up at 13 btdc at idle.
Make sure your centrifugal advance and vaccuum adv is OK.
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