Unknown rebuild specs

Nice looking car. But that doesn't answer your question. I think you have some choices which only you can make. If you want to destroy your tires as you say then bump the timing back up. You're mechanic told you the potential risk involved so it's up to you. If all your interested in is smoking the tires maybe get yourself some extra rims with smaller tires and when you're in the mood switch em out and burn some rubber. Smaller and skinny = easier to spin and burn. Might be a lot cheaper in the long run. Other than that it's the old "you wanna play, you gotta pay".