Slightly disappointed in performance

LMAO. It's not uncommon to see 60* total including vacuum advance. It's really not important because the vacuum can only works at part throttle. On accel, vacuum drops out, so it's not working then. Likewise at idle, IF it is connected to a ported vacuum source.
Yes and no.
Set up the mechanical curve and initial, then tweak the vac advance for the part throttle load and can get better part throttle response and power.
And do it wrong with too quick on the mechanical and get the part throttle ping.
Small block Chrysler with factory type heads should be around 50* - 52* while cruising on highway.
But the mechanical being all in at 2500 is a problem with vac advance. Makes it too easy to detonate at moderate to heavy part throttle.

Timing is all in at 2500, dead nuts is advanced until I have a knock and retarded 4 degrees which ended up being 36 iirc.
Dead nuts at top end of the timing curve is proven at the track.
WOT AFR same thing.
But you can get close on the chassis dyno.
IMO the important thing to do on the dyno is make the WOT AFR flat. Then at the track you just make jet changes.
Later you can tinker with enrichment restrictions vs main jets if needed and you want to dial in the highway mixtures.

Get that all done and check if slight changes in timing make difference.
All depends how dead nuts you want it.
Time to burn and mixture density are related, so thats why testing requires many iterations if you want the best out of what you got.
Most people are happy with pretty good.