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In my opinion (which may vary for your car) I like to set timing by advancing until it knocks at full load, and then retarding the timing just a bit from there so it does not knock.
This way you're getting the most power, and are just under the threshold for damage.
In my opinion, 24* is the setting for easy starts, "enough" power, and smooth running. If you want to go faster you will need to advance it.
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