This is what i have found.
Racing fuels designed for high rpm applications tend to have higher flame speeds than normal to help reduce burn time. There isn't much time available to complete the combustion cycle at 10,000rpm, so choosing the right fuel can really make a difference. Choosing a faster burning fuel will allow you to run less ignition advance, and ultimately make more power at higher revs.
Burn speed is often confused with burn/ignition delay. The delay from ignition until the flame kernal is sufficiently large to sustain itself may be from 12-18 crankshaft degress. If a fuel evaporates very quickly, it will begin burning more readily at the spark plug, causing this delay to be shorter. THIS IS JUST LIKE ADVANCING THE TIMING. Thus, a racing fuel parodox: faster evaporating fuels may require less ignition advance, not more, to obtain best power. This flies in the face of the old adage about advancing the timing when using higher octane fuels.
For optimum torque and power output, you want the fuel to ignite and
reach maximum pressure with the piston close to its highest position in the cylinder. If it
ignites too soon (i.e. ignition is too far advanced), the burning fuel resists the upward
motion of the piston. Best case is reduced torque and power output with a higher
operating temperature of the engine. Worst case is broken engine parts (head bolts,
cylinder heads, mufflers, etc due to the extreme loads imposed on the rising piston and
attached engine components.
If the fuel ignites too late (i.e. the ignition is too retarded), the piston is already on its
power stroke before optimum burning occurs. Torque and power output will be less.
Engine will tend to run hot.
Timing vs Boost
You could leave your boost the same, add +2 degrees of timing, pick up 6-8 whp, and blow your engine up due to detonation. You could add +2 psi of boost, pick up 30 whp, pull 3 degree of ignition timing, be far away from detonation and have a net gain of about 18 whp.
MBT will never be reached on pump gas and even though you can reach MGT on VP C16 without detonation on some combinations the high ignition timing will take its toll on other aspects of the engine.
1 degrees of ignition timing is about 25C in exhaust gas temp changeA colder spark plug with no other changes pulls heat out of the combustion process therefore reduces power.
Adding ignition timing increases power up until MBT.
Adding ignition timing results in high cylinder pressures longer
Adding ignition timing increases in cylinder temps (this is how it makes more power) and reducing timing decreases in cylinder temsp.
Adding ignition timing reduces EGTs and decreasing timing raises EGTs
Higher EGTs means lower in cylinder temps (fuel hasn't burned as much therefore burns longer in the exhaust)