I have always used a compression gauge in conjunction with the degree wheel. IF you make a good cam choice with the combination, you can advance the cam timing until the cranking pressure drops off and then back up to where it was highest.
However, if the camshaft choice is "too big" or has too late an intake valve closing event, it will usually not fall off within a reasonable amount of advance. I don't like to go anymore than 6*. Most cams are ground with 4* advance so that would be 10* total. It's all a personal preference. If you're going to race, it's probably best to install it where the cam card says. Advancing it further will cause the top end to drop off. But for a street car, that extra advance might be beneficial Just my 2 cents.