Hell yeah, looks like a darned good engine project. Betcha the long block after cyl head work will bolt right into your 280/8.
http://www.iskycams.com/
Probly the best known and most trustworthy camshaft cutter in the USA..... They will tell *you* what kind of grind will work best for you. And even since you wont see custom cams on their internet site, call em up anyway. These guys have been legendary as the best camshaft cutters for decades.
But the general rule is not to remove too much metal from MB blocks, heads and cams if you can avoid it. Probly the most common disaster was excessive shaved/resurfaced cyl heads of m180's, 130's and 110's beyond close tolerance specs.
Meanwhile if you start experimenting with custom cut cams and swapping cams around then keep the same cam carrier with each their own set of camshafts, a question of bearing clearances. So dont fall for swapping your cams as core exchange for a pre-cut set. Send em off to Isky now and they might have em cut for you in about 6 months or so, assuming you decide to go that route.
Configuration of the twincam m110 with flow through ventilation makes a perfect engine for souping up in my opinion. How about headers and polished ports?