Just a little miffed...

You can't adjust the amount of vacuum advance - only the amount of vacuum needed to start to advance. I say start at all the "loose" setting - which is counterclockwise until you feel the allen wrench "click". If you have surging at part throttle cruise, turn the adjuster clockwise two turns, and drive it again. Basically - add preload to the spring that opposes the vacuum until the advance operates smoothly.
Also - it's normal for the timing to continue to advance. Usually it will keep climbing until the weights reach the endd of thier travel, but most guys dont rev that high to notice it.
You will probably note total timing in the 50+° area with the vacuum plugged in. Vacuum advances usually add around 10°. The arm of the vacuum advance is stamped with the amount of advance it can supply.