This is one of those things that have to be "worked" at to find the best state of tune. But basically there are some rules of thumb I like to use.
KNOW WHAT the WOT timing is in your chip before you begin!!!!!!!!!!!!!!!!!!!!!
For example, the Extender chip I use is a 98 octane variety. That means the timing is 23/21. That is to say, 23º in 1st and second gears, and 21º in 3rd and 4th. (most chips don't have that capability).
So, armed with that info, I set my BASE TIMING to "E" which means -4º (it subtracts 4º from whatever the chip is commanding) accross the board in all respects. And I leave my WOT timing alone(set to "0").
I could very easilly have left my BASE timing alone, and set the WOT timing to "E" (-4º) to achieve similar results) and have snappier off idle response, I just haven't gotten around to trying it yet because my car has no off idle issues!.
While at the track it's a whole new ball game!!! Here's where things get a little harder. You'll want to know your altitude or the density air to help you here. If at sea level, don't worry.
But what I do at the track is generally leave my BASE timing set as it was on the street or even lower (to aid in spool up), and set my WOT timing to achieve my max desired timing. I hesitate to advise on a particular number because it depends entirely on 3 things, what the car likes, what effective octane rating you're at, and finally how much boost you're running.
My car as an example runs pure 114 octane at the track, and I crank the boost up to 25-26, and am able to run my timing up to 28º
But the thing to remember is, AND THIS IS VERY IMPORTANT: the two timing adjustments in the Translator are additive. That is to say, they algabraically(sp) add. Suppose you set BASE to +4, and WOT to +4, your timing ADJUSTMENT would be +8 at anything over 3400rpm.
Now suppose you set the BASE to +6 and the WOT to -10? result: -4
BASE -6, WOT +6 = 0
BASE -6, WOT -2 = -8
BASE +2, WOT +6 = +8
See what I mean?