Holley blue for 15 years just ahead of the fuel tank. I hate the noise. Even with long headers, dual 3" pipe and dual 3" Flowmasters I can still hear it at idle. I have a hidden toggle switch wired to it. Makes a good anti theft device.
I had my gas tank done back in 93. Can't say that I ever noticed anything odd and it's still in the car and doing fine. But I don't think I put my tank back in right away. Can't really remember now though.
Well you could start from stock then adjust it a couple degrees at a time and test drive it. When you drive it make it work hard to see if it pings. High RPM and low. For the low RPM keep it in a high gear at low RPMs and give it some gas. Just don't give it enough to down shift if it's auto. If it pings at all then back off the timing. You'll probably find that it will be around 8-10. I think my stock grande is around 10. My coupe is around 18 but it's highly modified. You usually don't want to go more than about 30 or 32 totally advanced, but depending on your timing light you might not be able to check that.