Jeff,
That is a good question. You might want to post it in a Camaro/Firebird, or Monte Carlo type forum as well. I know those cars are getting stuffed with the ZZ motors all the time.
The little bit I could add, would be:, if you are building bottom end grunt, and have mild rear gears, go with the 4 degree advance. If you are looking to do exactly what the specs on the cam advertise, get a degree wheel, a dial indicator, take your time and verify you are putting it in straight up. If you have aggressive rear gears, and are looking for more high RPM, wind it up and out, then go 4 retarded.
What I do know is that all cranks are not the same. You may think you are going 4 degree advanced and actually be 8, and it never run right,...unless you degree it in anyway. You may end up having to get the cam buttons, drilling and rotating the cam gear until you exact it in anyway.