I know that some use a vacuum gauge to fine tune the idle mix setting on carbs.
It's a great tool to analyze engine condition, but I wasn't aware it could be used to time ignition.
Today's fuel is different from the days the shop manual was printed.
Using the flywheel marks and timing light as suggested will make the engine run too rich.
Generally speaking, a street engine responds and runs best at the leanest setting before harmful pre-ignition occurs.
To find the sweet spot, just keep advancing the dizzy in small steps, until you get a slight ping at wide-open-throttle when accelerating uphill in high gear.
Then back off until the ping fades away.
Works every time and no special tools required.
The engine will respond much snappier at acceleration and you get better milage.
When you are done tuning, read the spark plugs, which tells you how well the engine is in tune and if you have to make adjustments.
Spark Plug Color Chart