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Cam timing and ignition timing are two seperate things. One has little to do with the other. (it does but thats way too technical right now.)
Set your ignition timing according to your book for your specific engine.
I have no idea what cam, heads compression, or anything that may indicate what kind of timing your engine will desire.
Hit it with 8 to 12 degrees of initial advance and go from there. Have you any idea yet of how much total advance you have?
Not knowing which balancer that you have we are assuming that the engine likes 15 degrees. It probably should. Sounds as though you have a pretty nice light, so I would check to see how much "total" advance you have and verify when or at what rpm this occurs. Then you may documant that and start messing with the curve.
15 degrees might run very well right now, but might get tight when you try to hot start it, so keep that in mind.
Also want to make sure that you do not over time as it may pop and perhaps detonate under load.
Lots of variables, so set a baseliine and keep a decent log, so if something goes wrong, you dont have to start over. Just look back at your log to determine what the last timing settings, jets settings, etc, etc were.
Log books make tuning a snap.
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