Mild Built 340 Timing/tuning help?

Hello all!

I am new to the forums, but have been reading advice here for a couple years now. Time to finally post.

Me and my friends have built my father's '70 Swinger 340 engine, and now it is finally time for me to start tuning it. I am still fairly new to tuning older vehicles, although I have been studying and learning tons(quite a bit from you folks!) over the past few months. It runs well, I just need some advice on intitial/total timing(and timing curve) before I move onto tweaking the carb. Here's the engine:

340 .040" over
TRW pistons
Comp xtreme energy hydraulic flat tappet 224 @ 050
Eddy aluminum performer RPM heads
Eddy performer RPM Air gap aluminum intake
Mallory Unilite Distributor (mechanical advance, no vac)
Holley 800cfm DP
C/R is somewhere in the mid 9's:1 if I had to guess.
NGK BKr6e gapped @.035"
We run Sunoco 110 leaded.

I understand each engine is unique, but would anybody be able to possibly give me a "ballpark" answer to these questions?

1. Total timing. I have heard around 34-36* is recommended. Would that roughly apply to this mild built engine as well?
2. Mallory dist. springs -- what spring combo(timing curve) would be a good place to start?
   
3. What is the best way to determine initial adv?

Bonus points for a really dumb question. I have never personally heard engine ping, and I have read many times to pull as much advance as possible without pinging. What exactly is the noise I should be listening for, and would it only be under acceleration?

Anyways, thanks in advance, and forgive my stupidity! :D
- Steve