IMO, I think the purple cams duration at .050 being 238 is to large for a low compresion engine. Though, through sheer cubes, the effect will be minimized as vs a low compresion 318, you can still do better with a cam selection.
I would look for a split duration cam so it can help out the not so great flow abilty's of the stock head. Here's some examples;
Crane cams;
This cam has a wide centerline @ 112 to help build cylinder pressure in low compresion engines. Excellent daily driver with good power and mileage.
I used this cam before and currently.
http://cranecams.com/?show=browsePa...-440 C.I.&partNumber=643941&partType=camshaft
This one is similar but with alittle more RPM. Could use a bump in the ratio;
http://cranecams.com/?show=browsePa...-440 C.I.&partNumber=643801&partType=camshaft
Lunati cams;
Same , like description as the Crane cams above but without a wide centerline and will have a chop in the idle.
http://www.lunatipower.com/Product.aspx?id=1578&gid=287
http://www.lunatipower.com/Product.aspx?id=1579&gid=287
A summit racing cam, ground by Crane to there specs, similar to a Crane cam. (Cheap!);
http://store.summitracing.com/partdetail.asp?part=SUM-6400&autoview=sku
I'm having problems opening anything up from Comp Cams, but they have a XE line that will work very well. Look for intake durations starting at 218 @ .050 or so but under 230 @ .050.
218 @ .050 will have a strting RPM power band of approx. 1800 depending on the grinder.
Given the low compresion ratio, if you go bigger, it will make the bottom end soft and slugish without a big bennifit of a superior top end worth the off set.
Also, I would do the RPM and 750 carb. Just take the time to tune it up and dial it in as best as you can. She'll move well.
The biggest thing your missing is head porting and a good bump up in ratio.