I would install the cam so the intake lobe centers at max lift are from 109 to 106 after top dead center(what ever you can get ) , that will advance the cam from 3 to 6 crankshaft degrees and increase the bottom end HP and torque as well as giving up some power above 5000 RPM
On the ignition I would recurve the stock distributor if it has mechanical advance built in it so it has between 14 to 18 degrees at idle and no more then 36 degree total advanced revved up high enough to make sure the mechanical advance is maxed out
Mr gasket sells the advance springs so you can change them to make the advance come in sooner, another help on low RPM power