it certainly is linked to it thats for sure.camshaft profile is very important.
just remember this.
we all have to deal with engines that make quite a bit of CO.we tune with holleys etc..
We dont have the luxury of very good droplet control so CO is there and a big part of it is good because its a colder burn.its a safer burn.
just the other day i had to tune a blown motor on a 42 degree day getting it ready for power skids that will happen in hot weather,without vacuum advance,and make sure the car doesn't overheat,fully heat soaked .So thats what i did,tuned all day in the heat making sure its ok.CO burn is your friend.
Just as well i tuned it for him as it was very lean over 50% load.haha..