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Thanks for all the replies,I am definitely planning on having the engine rebuilt and adding a better cam, aluminum intake, 4bbl, and headers and whatever elseI come across. What was really annoying me was that everyone elseI talked to would just say "aww, you just need to adjust the rockers, why would you want to rebuild?" It seems like noone can even grasp the concept of the torque-down rocker nuts/studs. My belief was that the cam was shot and that whatever metal was worn off the cam was most likely ground into everything else in the engine. Whenever I would suggest a bad cam i was always told i was crazy. Thanks for the help... Time to build it better!
Just a thought, you could consider a crate engine too. Depending on what all you are doing, a crate will sometimes be cheaper and less expensive. Either way, good luck!