Most of the time 26* would be excessive, but for some*** setups you can get away with it. This is also with race gas/e85. No one without a lot of experience or if it doesn't bother you at all to change head gaskets should try timing higher than 23*. They also do this on a curve, not just a flat-out 26* during WOT. They do something like 20 at 5000 rpms, then 22 at 5500 rpms, then24 at 6000. The timing raises with the rpm.
Any intercooled car or with race gas should be running a little leaner than most. Your buying the elements to keep the car less prone to knock, mise well use it while making more power. I'd say in the 11.9-12.2 range is where the most power may be had.