Originally Posted by rectangular
I'm really wondering if this could be salvaged with a new cam cap, and smoothing out some of the gouging on the cam and the head journal.
Nope, it's junk.
Make sure to pull the cylinder and check out the ring lands on the piston. At the very least put new rings on the piston, tight budgets suck. Might be worth a call to EagleMike to price out a 685 kit, damn shame to put it back together without it.
Just a note for putting it back together, take out the top bolts on the subframe and loosen the bottom ones...makes slipping the carb back in super easy.