Basically set the crank offset to whatever you have base in the distributor. It is mainly so that the spark table values are correct.
I don't like changing the base reading, as you are changing timing across the board, for a race program you probably wouldn't simply add 3-7 degrees *everywhere*.
I'd create separate programs, and load them depending on the octane you are running. Your fueling will probably change as well. You could dial some safety aspects in for the street program as well - timing & fueling are safe above 15psi in case of overboost, etc.