The big secret is that many 2 stroke engines work well with similar setups. Squish clearance that is fairly tight works well. As a very general rule, squish can be set by displacement. If your cylinder has 500cc displacement, the squish is very likely to be more than if it were a 125.
Try somewhere around 0.030-0.035 inches squish clearance. Run super unleaded and don't look back. You can adjust the squish angle too, but it might be better to make one change at a time.
It truly is funny how the "hot" setup really is just a simple set of common numbers. Things like exhaust port timing hovering around 200 degrees duration for excellent all around performance, and the (single port) width at slightly less than 70% of the bore dia.
Hmmm, the more I think about it, the more I want to discover all these numbers and write them down.
Chris