Camshafts: What effect does increased lift have on performance?

And what are you looking for in such an engine? Daily driver, dedicated 1/4 mile racer, round round racer, what?

I feel like I asked a guy what time it was and he told me how to build a watch.
I asked what I thought was a simple question and some well intentioned members took it WAY FURTHER than I can understand!
Thank you, but I must have mistakenly thought the answer was a simple one like It is all dependent on the flow capabilities of the intake and exhaust systems.
The engine I’m building is a stock stroke 360. I’m using #308 heads that are UNported. I do have an Air Gap intake, a Holley 750 and 1-5/8” headers. I only tore this engine down because it blew the head gaskets and the owner let water sit inside and a few cylinders got rusty. I am not building a race engine, it will be entirely for the street and honestly, dirt trails and fields. The car is a beater 67 Dart that already has a decent 360 but I got this engine for $500 and just wanted to go through it for fun. I’m in no way looking to squeeze the very last bit of power from it, I will be happy with a small improvement over the existing engine.
The curiosity about cam lift just sprung from my own desire to understand why some companies differ in their reasoning.
Comp Cams had an “HL” series of cams with higher lift as other cams with similar duration.
I figure that the lift was changed for some reason, one that I wasn’t familiar with.