I wouldn't spend any money on a new cam unless the old one has some lobes going flat. But if you decide to go with a new cam, that 2801 may not be the best choice. I think it is recommended for 9:1 compression, or higher. Also, it has more lift than stock, so will need new valve springs. One thing leads to another.
If you decide to go with a new cam, I'd recommend a Lunati Voodoo 256, with the stock converter, or a 262 with a 2400-2600 converter. You'll also need some good springs, like the Crower 68404-16.
http://www.ebay.com/itm/Cloyes-Gear-...970e3e&vxp=mtr
http://www.race-mart.com/Lunati-LTI-10510701LK.html
http://www.summitracing.com/parts/cr...f3QaAq4Z8P8HAQ
There is some performance to be gained by recurving your dist. By using at least one lighter spring, from one of the recurve kits, you can lower the rpm at which your dist achieves total timing. Most say you want all your timing advance in by 3000rpm. Some say even a bit lower.
I'll leave the details of the dist timing to the experts. I personally would not spend any more $ on a "557" block engine than I had to. Since you're planning on a stroker build anyhow, I'd put the $ into that build, instead of your present engine.
These are just my opinions, and will not be the same as some others.
