in his notes beneath the pictures he said he could go .060 over and still be OK, leading me to believe he is intending to fully rebuild it. It is somewhat of a quandry, as parts of the engine look extremely good and others look rather awful. So fiftee3 where ever you are, it seems your engine needs some serious looking into. It may be fine, as was said earlier, the water may have gotten into the engine through open valves and not really be a problem. But you have to do your due diligence. It won't be cheap to rebuild your engine. You can buy a brand new custom grind cam for around $200 from Howards, I wouldn't even risk all that time and money even monkeying around with that cam in its' present condition. They aren't that hard to find.