On Mod motors, I have found that for every 2 degrees you advance the cams, you lose 200 RPM's off of the peak.
Camshafts on turbos are tricky specifically on the exhaust side. A turbo motor has a longer power stroke than an N/A, SC, or N2O motor because the piston forces out the exhaust at higher pressure. I believe the powerstroke is an extra 20 degrees of crank duration. Hard to verify that, but it does stand to reason. This would mean opening the exhaust valve too early would cost you a lot of power.
Typically the restriction in a Mod motor is on the intake side. On an intake restricted setup that has plenty of exhaust flow, if you open the exhaust valve to early you'll end up over scavenging the cylinder and you will get exhaust reversion. Now, when there's plenty of overlap & RPM's are high enough, this is not a problem. The over scavanging helps pull in the incoming air charge. But when there is very little overlap, like on a stock camshaft. And there is extreme exhaust pressure in the exhaust manifold, over scavanging the exhaust can really hurt performance as exhaust gasses will return to the chamber & dilute the incoming aircharge causing a slower reving motor and a HP loss up high. At no time in a turbo application is the intake pressure higher than the exhaust. RPM & velocity through the intake tract can help force out the higher exhaust pressures, but at low RPM there is very little intake airflow velocity so delaying cam timing events becomes very crucial.
One of the things that I had to consider when tuning Matt's engine was the overly advanced stock cam that have very little overlap. Because of the advanced timing event's, closing the intake valve early, increases cylinder pressure significantly. High cylinder pressure on pump gas is a bad thing (see Matt's build thread #2). With a different set of cams or degreed stock cams, I would be more comfortable getting aggresive with the timing tables with pump fuel.
IMO, the only upside to advancing cams is slightly quicker turbo spooling. Again, this is due to trapping the intake charge by an early closing intake valve.
On turbo applications, I've always gained a lot of HP from retarding camshafts that were overly advanced. I believe Matt will see close to 100whp gain from replacing the cams or 50+whp gain from degreeing the stock one.