Background- my moggie is a 1954 Series 2 with an 803cc engine. Mechanically in pretty great condition except the whole ignition system was ancient and in need of a major overhaul. I've never tackled an ignition system before but the work done was as follows... Removed dizzy and sent vacuum unit off for a professional refurb (it was leaking). Dizzy cleaned up & lubricated, then refitted with new points, condenser, rotor & cap. I made up a new set of HT leads, fitted a new coil and 4 new spark plugs. Engine fired up and ticked over nicely, now to tweak the timing!
A helpful friend of mine lent me a nice Snap-On timing tight with advance control knob.
I disconnected the vacuum pipe and capped it off, warmed up the engine and connected the timing light. Now, my engine has the 3 timing 'spikes' next to the pulley. A long one for TDC and 2 shorter ones for 5 & 10° BTDC. With the engine at idle, the strobe showed the timing notch on the pulley to be WAY past all those marks, so very far advanced I assume? The mark was rock steady and not wavering though which I gather is a good thing.
Ok so with the pinch bolt loosened I gradually rotated the dizzy anti-clockwise as viewed from above until the revs started to drop and the engine started to idle a bit rough. Looking back at the marks I still hadn't got anywhere close to the timing marks! I used the advance knob to see how far off I was and it was around 30° BTDC!
I advanced the dizzy again very slightly until it idled nicely and I took it for a test drive. It seemed ok but I just don't know what signs to look for. I just can't help thinking I'm way too far advanced but I could do with some wisdom being thrown in my direction!

Sorry for the essay but I wanted to get all the relevant info down. Thanks in 'advance'!

Chris