Factory timing is 10 degrees, you can push it to 12 or even 15 but
detonation on cheap 87 gas could melt a piston.
Best thing is to get a pro shop with a wideband tuner to set it up for you,
they could squeeze out perhaps 20 hp, but you would have to run high test 93
all the time.

   Never heard that one.  But, then again, I havn't
heard everything.

   Anyway, if you want a little more torque, you could
could advance the cam timing a few degrees.  But, the
differance is very small.  And I wouldn't go more than
4 degrees.

   You'll get better performance by changing rear
gears. Or swapping in a new/better cam.