Timing aligns the fuel burn to the crank angle where it provides the maximum beam. The spark starts the burn, but the burn rate and duration depends on engine dynamics that vary with build design and operating situations. So things like compression, fuel mixture, cylinder charge, turbulence, temperature, RPM (that can limit useful burn time) .....
My guess is the FBO limiter plates are off, by two times. I have tried to provide information how a small tape measure, scribe can be used to measure angles of rotor movement, and associated advance. A square part like a machinist ruler is use to map the rotor tip center, straight down to outer edge of distributor for scribe mark. This is a simple process and can also be applied to vacuum advance.
Back to timing. Retarded timing burns fuel on the way out. When throttle is cracked, throttle response is poor. It can burn headers, turn manifolds cherry red, make people put on aluminum radiators that are less effective, so they add electric fans that waste twice the energy. But when the engine is at WOT, all is well, too proud to run vacuum advance to get the timing they need for light throttle getting around and cruise.
Too much timing results in weird high piched noises and herky jerkey operation, especially at light loads. At WOT the engine noise over shadows, so as TrailBeast says the RPM drops. So those that are really competive, log RPM, and ignition timing, and other parameters ( manifold pressure, throttle position ..) at a high rate. Then simple math (subtraction ), is used to find the rate of change of RPM. That is acceleration... plot that out, in relation to RPM, now you have a way to track improvements. What I am saying, is the information is there to gauge performance incrementally at various RPM, to get the timing curves you need for complete response. After work with that, most discover electronic advance with 3D mapping and EFI is vastly superior to carbs and mechanical distributors.