The 261 cam is a high lift cam (higher lift cam). Someone else will have to tell you what this gives you, but Chevrolet stated that this not only maintains higher horsepower at higher speeds but it also maintains increased torque over a wider speed range.

Maybe someone who has done the upgrade will respond. The 1954 Engineering Features Manual indicates that larger journals (?) were used for cam lobe clearance .

One aspect of this upgrade is the "cool factor" - the 235 engines in early Corvettes used this cam (1953, 1954 and supposedly into 1955 until the 235s ran out).

Tim