Cam Question, Money to burn
You will get even more HP if you do the supporting mods. Remember an engine is an air pump... and you want to move as much air as possible. Treating an engine as a system will help you make the best power. Heads, and headers help the engine breath a lot better in addition to the cam. When money allows I would do long tube headers, and heads... then you'll pick up even more power.
I'm building a lower mileage LT1 engine with a stock short block for my 1990 Chevy 1500 Silverado Standard Cab. I'm going to install the Comp Cams 502: 218/224 @".050 112 LSA. This will give good torque, horsepower and drivability since it has a relatively low amount of overlap compared to other cams. The truck will have mid-length headers, and I did a home port on the heads (mild bowl work... valve guide boss reshaping... port bias work... combustion chamber polishing etc...) So this cam will work well with my engine since I maybe picked up 15-20 CFM and it will have headers.
I wouldn’t really go bigger than the HOT cam with stock heads because the engine can’t move any more air. Heads and headers will be a big improvement along with a cam. Remember with a cam you WILL have to change the springs, and roller rockers would be highly recommended. The stock computer will work OK with one of these cams, but tune is also recommended to get max performance and drivability…. Umm yeah I think I probably gave you more than you wanted to know!
Good luck and have fun !
Ill let you know how it goes after I get my valve springs installed. 
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There are a lot of things that go along with getting a cam that you might not think of straight off. Any non-stock cam will require hardened pushrods (if you don't have them already), better springs, retainers, and possibly new valves. All this, with the gaskets you'll need to do the swap, and a cam change can easily run over $1000. A CC306 or GM847 cam will NOT run well with a stock tune, and you may max out your stock 24# injectors. If you don't - you'll be damn close. Also, if you get a cam in this size range (~230-235* intake / ~235-240* exhaust; .55 or more lift) it may be (and likely is) too big for the size of stall converter you are running. IMO - limiting yourself to a cam that won't require you to recalibrate your computer won't get you the kind of power that you'll feel in the seat.
On the plus side, people with M6 cars have seen 400+rwhp with these larger cams, headers, and P&P'd LT1 heads. You WILL feel the difference with those mods.



