A turbo guru will use a combination of a aftermarket knock sensor and EGTs to effectively tune ignition.
On a dyno...its relatively easy. First it has to be asteady state dyno and be able to hold load settings. Start the car, bring it to the load point you want to tune, advance the timing until knock(or most power without any knock) and retard a touch back for safety. How far back you bring the timing is your "buffer" zone.
On the street, a person with a little experience should be able to watch the EGT guage react. But EGTs are pretty tricky...you can advance until EGTs skyrocket, advance a little more and then they start to come down(which shouldnt make sense). Its hard for me to explain only reading and learning about it. I wouldnt recommend street tuning ignition, but it can be done.
Check out
http://www.efi101.com/forum for some more tuning info...