Going too far will cause issues, but advancing it a little bit can help, but it seems to vary a lot from engine to engine. Yes you're firing on the compression stroke, but keep in mind that it takes some time for the charge to burn and reach peak cylinder pressure. There's a fine science to it that I'm not interested in learning, at the moment. lol
Just look how far ahead the XR2's timing is in comparison.
Like I said, I don't know what kind of gains you'll see. Try it and let us know