Usually a good visual inspection will be sufficient to determine if a cam can be reground, particularly if there's not going to be a radical change in the lobe profile. I've got one really good looking core cam- - - - -on 11 lobes. The last one in line has some deep pits that probably won't be able to clean up on a regrind. Obvious lobe wear or deep rust pits are reason to reject a core, but if the lobes don't have any visible wear, the cam will probably be OK. You can also compare the base circle diameter and total lift with just a micrometer or an accurate digital caliper.
There are several good you tube videos of cam regrinding- - - -the process is extremely interesting.
www.youtube.com/watch?v=fUQnHk_LRz0Jerry