Spent Saturday morning at Andy Bowden's rolling road playing with these settings in pscan
We ran my sprint car, "Project Shed", a 1996 MGF with a 1.8 MPi engine running MEMS1.9. Not quite standard: it has R140 cams, a 52mm throttlebody (because I had one spare), a K&N panel filter, an MGF Centre 4-2-1 exhaust manifold and a Trevor Taylor single exit exhaust.
Advancing the ignition gave an additional 2 bhp, but there was little to be gained from advancing beyond 3 degrees.
The K-series is over-fuelled. By knocking back on the fuelling around 60 units (not sure what those units are) gained another 3 bhp

Got the air:fuel ratio closer to the ideal 13:1 but could not get any further without parts of the map running too lean.
Went from this:
To this:
Because the settings only alter the "open loop" look up table and not the "closed loop" map, there is a little kangaroo'ing at very light throttle openings at very low engine rpm in low gear/ low road speed situations. But other than that, everything is gravy

The acceleration is much smoother, pick up is very clean, and throttle transitions under all other circumstances are perfect.
Generally I am very pleased and all it has cost me is an hour's rolling road time. And I would recommend that you do use a rolling road if you really want to optimize the power/torque and establish the "safe limits" because both T4 and pscan will allow you to advance the ignition too far and lean off the fuelling way too much. That said, you can probably play with the settings (say to +2 degrees ignition advance, -30 fuel) within a reasonable safety factor with 60+% of the benefit...