That is a bit of cam for an 8:1 compression 440, but you do not have a cam problem, you have a tuning problem. I've got a low CR 440 as well with a cam in it that's only a bit smaller than yours and it runs great.

First, get ready to dive into setting up your distributor properly. Timing affect fueling, fueling does not affect timing. Your 440 is going to like lots of initial timing, it'll tolerate 18* initial and 40 or more total, although with adding extra total timing above that I don't think will gain you anything. Your carb sounds like it's jet too rich. Buy a holley jet kit and start jetting down the primaries. Also your 440 will like a 3000rpm stall converter and a 3.73 or numerically higher rear end.

Also, even with that .050 of head milling, you're likely only around 8.3 or so CR where stock was more like 7.8.