also helpful is to paint the marks on the balancer that you want. i.e., i have 10* and 14* painted (those newer sharpie markers that are silver work real nice for that and labeling vac lines, etc).
User, i have a light (cheapie) with the advance knob on it, but i dont use it. it tends to read a degree or two off for every ten (for example, i mark the 0* on the balancer, and use the timing light dial to get to 14*). if i do that, then just check it with the light set at 0* and look for my 14* mark, it is off by a degree. see what i mean? i dont trust the advance mechanism on the cheap lights. (and i know the timing didnt slip when i tightened the hold down bolt, which is something to double check. i often inadvertantly bump my timing a smidge when tightening the bolt.)
im sure the good lights are much more accurate. the stang is the first car i've ever used a light on. growing up, my dad always advanced til pinging, and then backed it down a smidge. ive always done the same. i just do it to know what im running. no magical timing advance for anyone. all are different.