I got the timing nailed down last night. It's set at 30 deg at 4000 rpm, and 12 at 450 rpm. I know I could have advanced it a little more like you said. But it already have sooo much better than it was.
By the way, it would not hold timing becasue the distributor clamp was just a crappy piece of stiff wire... $11 at O'Rieleys fixed that.
I believe I probably gained about 75 hp over the other timing. Now the question is the Vacuum advance. Is it going to give me any power under load? If not, I think I might leave it plugged.