You can get real deep if you want, there is a lot more involved especially when it comes to grinding ports. Its as much as art as science.
Avoid upping the compression too much, kills entry speed, harder on motor internals and is less forgiving with jetting.
Simply advancing the ignition statically will probably end in tears, there are mod ignition boxes with custom curves, thats probably a better route.
If you wanted a quick pick me up, I think leave the ports as they are, reduce the cylinder head vol a smidge, get a “mod” ignition CDI that has a curve to match your pipe and cylinder. Of course, having done that you will need to re-explore your jetting setup and moving to a higher octane fuel is probably not a bad idea either.