Timing problem

I have a 429 in a 69FB, and my timing is WAY too advanced with initial timing set to 40 degrees btdc. So I'm pretty sure my distributor needs to be relocated 1 tooth away one way or the other. My question is which way should I move it, Clockwise? and before I move it, should I retime it back down to a more ideal 10-12 degrees? Any help would be appreciated.

Mike