Don't hit the nitrous unless you retard the timing!
For best performance set it at 16* see if it spark knocks at high RPM's if so back off 1* til it stops. I've heard of people running 18-19* initial.
P.S. I wish I had your engine, since you're asking about adjusting timing I'm guessing you did'nt put it together youself, I hate people with money 
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88 GT: subs,pullies, 1 3/4 longtubes, flowmasters, AFR 165's,T,F #1 cam,Thyphoon intake, 24# inj., 73mm C&L,65mmT.B., 190LPH pump, Eagle sir rods, forged pistons in a newly rebuilt 306.
DYNO TUNED TO 300.97 RWHP 337RWTQ
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