I'm confused a little, i've always assumed the following.
Ignition timing - set by flywheel marking and TDC sensor, this is the one I recommeded keeping standard.
Engine timing - set by cam pulley (assuming it's adjustable) I have no experince with these i'm afraid.
Assuming you have used standard parts you should have the standard timings in place by default? Or is the R11 engine different in some way then the R5?