I was adjusting the cam gears on my type-r when I noticed that the ignition timing will be directly affected by retarding/advancing the intake cam. Now I don't know which to adust first; the ignition timing, or the cam timing. Is the amount of timing correction limited by my factory ignition?

 

Cam timing first, then ignition timing.

If you advance the intake cam, you advance the ignition timing. 1 cam timing degree = 2 ignition timing degrees.

The limits on ignition timing (and also cam timing) adjustability is limited by how far you turn the distributor before it's physically hindered by the distributor bracket from moving.