Correct. But only the dual quad distributor should be set at 12 degrees.
If you still are using the 1x4 distributor, it should be set at 2 degrees.
Maximum mechanical advance on either of these should be approx 32 degrees. That setting is more important than the initial timing. If you have too much timing, you could detonate your engine to death!
The stock springs will reach max advance by 3900 rpm. Lighter springs that bring that advance in sooner are a great performance mod.