If the teeth were worn that badly, they would shear off entirely. I've seen timing CHAINS get loose enough to jump a tooth, and the engine would still run, but never a gear setup. Have you aligned the dots on the timing gears, or are you just guessing that maybe the cam timing is off?
Here's a quick way to check cam timing without having to remove the timing cover: Remove the valve cover, and watch either the #1 or #6 cylinder valves. Turn the engine clockwise from the front by hand until the exhaust valve is fully open. (Exhaust is the last valve on the end, either cylinder) Then turn the engine in the same direction until the exhaust valve is almost closed, and the intake valve begins to open. (It's the next one in line, front or rear) When the valves are approximately the same amount open, intake and exhaust, the piston in that cylinder should be at the top of its travel. You can use a bright flashlight shined into the spark plug hole, or probe into the cylinder with a piece of soft wire to monitor piston travel. Don't use a stiff piece of metal like a screwdriver, etc. to avoid cylinder head or piston damage. If the valve overlap position comes anywhere other than top dead center, you've got cam timing problems.
Jerry
