Brent,
I intended to give you a fast, pat answer. I did a search at 460ford.com and got many hits:
http://www.460ford.com/search.php?mode=results
So the only thing I can suggest is that you do the same search for "initial timing" and then if you wish, ask the question over there.
I have the 521 and use 12 degrees initial and 36 total with the MSD setup. Your engine may need similar (or not!).
What did the paperwork suggest that came with your engine from Ford?
Tom