My 390? After years of experimenting with multiple advance schedules, my own is set at 23 fixed.
I typically cruise at/near peak EGT. The system I'm flying allows me to swap back and forth, fixed or advanced, with the flip of a switch. Near peak at 8 to 12K, where I operate when going someplace, there is no speed difference between 23 fixed, and the 28 ballpark on the advancing schedule at those altitudes.
The surprise for me was the limited virtue when a little LOP. Here is an example while returning from OSH, two panel shots taken about 30 minutes apart. I've set roughly 1 gph leaner than peak so I can nonstop back to 08A and arrive with about 6 gallons. It slows me several knots (183 KTAS is typical at peak and 9500), but the chock to chock will obviously be better if I don't need to stop.
On the left, 28 BTDC. TAS is indicated as two knots slower, but here I would discount a small speed change as essentially no difference, because it's afternoon and the atmosphere is not dead still like early morning tests. The real clue is the increased CHT and oil temperature. The additional advance merely moved the point of peak cylinder pressure 5 degrees closer to TDC, where it is higher without the mechanical advantage to use it.
A note on those CHTs. OAT is 50F or less. I developed my variable cowl exit with 50 as the tipping point, above which I open up the exit and below which I can close it. Here I'm going for range efficiency while maintain good speed, so the exit is closed down to around 30 sq inches for low drag, while purposely accepting a higher CHT for thermal efficiency. Open with 23 timing, CHT would be about 320F.
As noted previously, the head and chamber which makes power with the least advance is the superior design. It's what Lycoming was trying to do, successfully, back when they developed the angle valve. The slower burning parallel valve and fast burn angle valve engines have very different timing requirements.
Your engine? With a P-mag I recommend clocking 7 degrees. As I've written previously, I usually speak of 5 merely to remain in accord with P-mag guidance...political correctness. The 28 degree ballpark has shown a very slight advantage when cruising significantly LOP (50 or more) where the advance can compensate for the much slower lean combustion rate.
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