Timing is subjective. To your driving, your engine's build, and your location. For a mild iron head, I'd run as much as possible. With a factory stock (non performance) distributor, too much initial leads to too much total. So a good place to start is 10-12° initial. If it doesnt ping, ad a couple. I run totals in the 34-40° range, depending on the other factors. A good distributor will go a long way to giving the power that engine can give.