My first used car was a 68 chevelle that no matter what we did we couldn't get the 307 to run right. Pulled it to put in a different motor and found three round cam lobes. This was in 1975 or so, no talk about zinc in the oil back in the day.....
The crank wasn't bad, it was just like every other 100K engine from that time span. I still have most of that engine. I guess I'm waiting for the end of time or something. Anyhow, it will probably run OK for you. Sometimes the lobes wear enough to go through the hardened surface and then they wear like what you have pictured.
The 360 cam is a nice upgrade from a stock 318 cam with its 0.373 intake lift.
R.