The crank drives the pump and then the cam. The pump is infinitely adjustable (if you consider that you can jump teeth on timing chain for additional adjustment). Because both cam and pump timing are referenced to the crank, they really don't have any impact on each other. The pump being out of time does not affect the timing of the cam or vice versa. Even the chain being stretched does not mean that the cam and pump cannot be correctly in time once adjusted.

Andrew