I've never had good luck starting a cold engine that has a bunch of retard in the timing. I had a good 12.5:1 406 that I always had problems starting when it was cold. Had the MSD billet with the weights installed so that it was retarded (on a curve) from start up till 3000 or so rpm. Finally (after a starter and couple ring gears) I took the distributor out and locked down the timing at 36 degrees all the time, never had a starting problem again. Just recently, I fired up my Uncle's BBC 427, 13:1, badazz motor and he had his electronic ignition set with retard at start. Would fire for crap, took retard out and fired right up. That's how I run mine now.
Hope this helps.