For me, it was just trial and error while driving. If I went with too much advance, it felt like the engine was skipping, so I would just retard the timing back to where I felt the engine was running evenly. But keep an eye on your KR as well. For me, it wound up that gas mileage was very good at those numbers, so I stuck with them.
I'm not an expert, but as I understand too much advance could give you two possibilities- first being that the mixture is not ignited (harmless) but the other is that you ignite so early that you hammer the piston like detonation. Different engines react differently, I'm sure.
-Bob C.