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Most petrol engines and pretty much every Toyota one I've seen run the timing set at 10º BTDC.
This would be a good setting to start with.
Your local library may have a workshop manual for your vehicle. That's about the only place you'll find much info on the 3Y engine. It's getting on a bit now and there's not a lot of info on the net about it.
The petrol Hiaces are indeed thirsty beasts. Hence why there are not a lot of them on the road now. Most people prefer the economy of the diesels - especially the turbo variety which are the most economic of them all.
Cheers.
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