To add more:

The way I tune my car is really to try and balance the fuel and timing.
The question is...do you tune for a leaner AFR and run less timing? Or do you tune for a richer AFR and run a bit more timing. And where is the medium. Everyone will tune differently.

If I were to be agressive...I would first tune my car to 11.5. Then I would adjust timing for no knock. Then after knowing I can drive this around with no issues, gradually start to lean out the AFR's while keeping timing the same. If I were able to run a 12 AFR on 93 Octane, then great. Let's start adding some timing then.

Every car is different. Start safe and then slowly push.