360 timing

I asked questions because I didn't know. I AM doing research so i become more knowledgable about what i have. There are initial settings to start with and tune from there IF you don't know them do not reply with THERE ARE NOT ENOUGH WORDS. Everything ive said screams i know nothing DUH that is precisely why i asked. I found this site and thought i had found a great place to get some answers.

Sorry - I would have normally already torn into the thing to visually verify everything and get some base measurements to work with and develop a plan. Research will all be theoretical until you determine what components reside in that block. I apologize but if you want initial settings you have to provide lots of technical details that thus far have been omitted.

With no other info - set the initial timing around 10°BTDC and set the idle so it runs as steady as you can. If the literature is correct you must run race gasoline with an octane rating of at least 110. It might require higher octane but you really don't know until you take a head off and take some measurements. 110 leaded will let you run without destroying something. As noted - methanol is a different fuel, and requires a completely difference fuel system and calibration. If you want to got ath way then do the research and then buy the parts for it. E85 is a milder form of blend and it's easier although you will still need to revamp the fuel system calibrations, and the Carter will need to go in favor of a more-tunable Holley.
You should also provide cylinder pressure readings. A basic compression test. If it's over 180psi - you definately need race fuel.
Good luck - sounds like a wild engine.