i thought you said the cam was rusty ?
thats just minor corrosion (in poor boy speak) and should just wipe right off with an SOS pad followed with some 600 wet.
But if you find a mech cam is suitable and you have a stack of nice ones - yeh i'd prolly swap it. But hang on to it.
I've got an 82 1.6 in a Truck that was a running engine before PO decided to do timing belt/water pump. Then lost enthusiasm at halfway point, and left Vcover off while vehicle sat outside about 3-4 years. Shet happens and time flies.
Its more what i'd really call a rusty camshaft.
And was thinking of cleaning it up - and running it
Send me one of those from your pile !