Where's the Wow?

You probably just don't have enough compression, start turning up the timing till it pings, I had the same problem with a chevy put together with the wrong heads, piston combo so we had to run the timing at 50 degrees. I was going to change the heads but it ran good enough and never did.
Yes, lower compression motors can get away with more timing. I personally do not like it when the age old method is used...... advance initial and lock her in at 34*. Let the engine decide where it wants to run. It may want only 16* initial but 44* full advanced...... just say'n.
However, I believe there is definitely enough compression to run run run :D