As a heads up, vacuum advance isn't required, even if your distributor has it. I've been doing a lot of research on this myself recently and there's a big debate on the importance of vacuum advance and running ported vs manifold. I've run my car in all three configurations and I'm going to play with the carb a bit more, but I'm going to try full manifold now.
You need to add timing because it takes time to burn the fuel. You want peak cylinder pressure to happen a bit after TDC. There are two things that come into play: mixture and rpm. A lean mixture is slower burning than a rich one. Higher RPMs need to ignite sooner.
RPM advance is handled by the weights in the distributor. Easy enough.
A typical setup where the carb goes lean during part throttle operations will benefit from having manifold vacuum. Cruising at a ~15:1 or so AFR and light load or at idle lean as possible you can run 40+ total degrees of timing. As you apply throttle vacuum will drop and vacuum advance will decrease until you're running only on mechanical advance. It's (crudely) tying your additional advance to load.
Ported vacuum.. works pretty much the same except you get no vacuum advance at idle and a poorer part throttle vacuum response. Net effect is that you get a worse idle and worse part throttle response, higher EGTs, etc.
I don't see any reason to run ported unless you need to run a rich idle AFR due to a cam or whatever and the extra timing hurts idle quality.