Timing is everything
Start with 12 degrees initial advance and if no pinging, try 14 which is usual optimal on near-stock 5.0's. Some can go higher. You should see at least a 1/10 et drop, sometime as much as 3/10 - depends on the car - but you'll see some difference and best of all, it's free.
Don't forget to fill up with 92 octane (or better) gas before advancing the timing or you'll probably ping for certain.
A reminder: don't forget to remove the spout connector (hangs off the front of the distributor) before advancing the timing and keep it in your pocket so it doesn't get lost (happens more than you would think as it's small). Remember to replace the spout connector after tightening down the distributor.
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