You don't want to dial back your initial advance, because as soon as you go to WOT the vacuum drops to near zero and all vacuum advance drops away, leaving you with just your ultra low initial timing and turning the engine into a real dog.
Right on the money! If done right, you can still have 32-36 degrees total advance and 10-14 degrees vac advance with NO pinging.
I don't know how the MSD stop plate works, but the Crane limiter is kind of a kludge, because it actually pre-loads the diaphragm spring. In addition to messing up how the diaphragm is supposed to work, it requires resetting the initial advance every time you adjust the stop plate. And if you don't use the limiter, the Crane adjustable canister will get you nearly 30 degrees vacuum advance! Yes, the pin moves over .300". (Insert "WTF" emoji here.)
Instead of pre-loading the spring, I guess you could always drill and tap a hole and install the plate on the other side to limit pin travel. But you can make your own stop easily. I don't have a diagram or pics handy, but what you do is install a stop plate that limits pin movement to around .110", which gets you 10-12 degrees max without a rate change. You might try to google "HEI stop plate".
I used the canister below on GM HEI distributor #93440806 to replace its stock canister that pulled >20 degrees advance. Works well for a moderate performance engine making 16-18" vacuum. I am running it in a 355 with 9.4:1 compression, Vortec heads, and 32 degrees total (initial + centrifugal) advance. Works awesome, and now my Crane kit is sitting on the edge of a workbench, perilously close to the trash can.
ID#: AR12
P/N: Eichlen/NAPA VC1838
Borg-Warner V386
Application: 1975 350 Buick
Starts @: 7-9” hg
Max Adv (Distr. Degrees): 7 @ 10-12” hg (14 crankshaft degrees)