i wouldn't say 38 degree's is too little starting point...probably a good place to start.
if the engine hasn't been dynoed you just dont know where the sweet spot is without testing the car.
i have ran 40 dergee's on small blocks in the past..( nautral aspirated)
just remember Timing is gonna give you more bottom end while taking away from the Top end and vice versa
same thing with valve adjustment..( tight setting more bottom end) (loose setting more top end)
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Bjuice..
"I'M YOUR HUCKLEBERRY ! "