No need to do anything with the vacuum advance. It is totally out of the picture at idle.
I see no reason why using the octane selector as you have described would not work to add 5 degrees of timing.
After you do that, take it for a drive and listen for a ping when the engine is under load. Driving in 3rd gear when you should be in 2nd gear will do that if your timing is retarded. You want to advance the timing just a smidge higher than what causes a ping under load. Too much advance will kill your performance. It won't ping, but it will be a dog.
Carl

Last edited by 52Carl; 10/01/2017 2:45 AM.

1952 5-window - return to "as built" condition | 1950 3100 with a 235 and a T-5 transmission