You generally want to leave your fuel pressure at 38-40 psi with the engine running and the vacuum line removed from the regulator. You can set it higher, but the computer will learn and trim the pulse width anyway.
For timing go with 15 degrees of initial advance. That would get you in the ball park. Tuning a car to just run decent is the same basics as tuning a relatively stock car. Now getting the best nubers out of it is a different game all together.
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1988 Mustang GT
11.8 @ 123 (7/14/01)
1992 BadAzz Wrangler
1993 Explorer
See my car at:
www.mustangworks.com/cgi-bin/moi-display.cgi?179