I think I understand your question so here is by stab at it
Is the two options the only options?
more boost less timing or Less boost and more timing?
The answer will be it depends. Given a fuel with infinite octane, you could theoretically crank the boost until the turbo turns itself into a smoldering pile of goo. The same can not be said with timing as even with infinte octane. You can start the combustion process to early . Of course we are making a big assumption that the turbo is efficent at all ranges to make a conclusion of that nature (which of course does not exist). Of course the example I posted is a physics world problem. Real world no such fuel exist so it comes down to trying both until you reach MBT timing on that boost and then see if power is gained by going more boost with less timing.
