How would I determine how much advance my vac advance is providing?
You test it. On the engine, we would use a hand-vacuum pump to the vacuum canister. With a timing tape or plenty of damper markings, you can apply vacuum incrementally to the canister at
low warm idle, and read the amount of advance on the timing marks with your timing light. If the rpm changes, take care to also note any added mechanical advance added-in.
Likewise, you can tune your vacuum advance on the road with a hand-pump, while driving at
steady part-throttle loads. Add or subtract timing with the pump at a specific speed and load. Note the vacuum applied at the point the engine made best vacuum. Repeat at a different speed. I might do 30, 50 and 70 mph. When you get home, plot those speed and vacuum values and the relative advance (from the idle testing) to get best vacuum. Configure your vacuum advance canister to (as closely as possible) hit those values at those points. Bingo - tuned vacuum advance.
If you had previously tuned part-throttle fueling to max lean just shy of lean-surge (the job of the main jets in a Holley, Autolite, etc), then your ride will have the most potential for peak economy. If you also tune your fueling with the power valve and PVCRs, you will get both max economy and max power potential in the same tune.
Tuning vacuum advance is
very important to not only best performance, but much longer engine life, especially the valves and seats. I recall some long (and a bit draggy) but thorough videos on this if it helps.