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I'm going to offer a counter point. You only get one time around, so if you are able to, make it the best motor your wallet can afford.
here is some more counter point. A brand new cam is indeed $400-500 depending. A reground stock cam can be done all day long for $125-$150. Find some used Johnson's and get them resurfaced for another $100 for the cam grinder.
Quality hi-flow, stainless Chevy 1.5-1.6 valves can be purchased for approximately 1/2 of what the flathead versions cost.
Keep your eyes open on good deals and jump on them when you see them.
Few things draw as much attention in a crowd than a well built and great sounding flathead.
Not sure what car this motor will be going in to, but I would not change a thing on my big bore, big cammed motor that was built for my roadster. If anything, I may add a 4X2 intake to replace the 2X2. It's a blast to drive.
Others may disagree, but you need to build the motor the way it will make you happy.
Get some more info on the condition of the block and we can help you start to narrow down some options for your build.