setting timing and water pump tacky sealant

[josephfpu]

ok I know how to set timing to the little notches.
I have a 91 ford festiva.

which notches should I set it to (there is a yellow and a white.)and what about all this "advanced timing stuff" I would like my car to be really peppy and I always but 89 or 91 octane.

should I use some tacky sealant or not on the water pump gaskets I am replacing?

thanks, Joseph