Oh man,Older engines benefit greatly by precision machining and balancing.
First have the block decked, where the top at all four corners is within a .001" range (of each other).
Then have the connecting rod lengths set equal, and check the pistons. New pistons are usually very close to each other.
Have the crank ground to the highest tolerance available.
Next have the parts balanced. Overall efficiency is usually up a minimum of 10%, and very often over 20% if these simple steps are taken.
Once the block and associated parts are done, you can build the heads to a high standard. Do not knurl the valve guides, that is a joke. Put in replaceable cast iron valve guides, cost about $15-$20 a guide. Put in all new exhaust valves, I like Manly valves. New intake valves would be nice as well.
And last, check the combustion chamber volume for each cylinder. You need a plastic plate with two holes, plus a graduated burette with stand. Use a die grinder to smoothly grind away in any combustion chamber that is small. Try to get the chambers within .1 ml of each other.
A stock cam is probably best. Buy a high quality timing roller timing chain set.
I was 100% with you for a minute.
Then you said stock cam.