No valve adjustment?

Before you pull the camshaft, you might check for timing chain stretch, so you can have parts ready. Pop the distributor cap and watch the rotor. Insure the key is out or the battery is disconnected. Pull on the fan belt to rotate the crank in the normal direction (cw looking from front, i.e. pull on lower belt and push on upper) to TDC mark. Now, watching the rotor, rotate the engine in reverse direction until you just see the rotor move. Note how far the crank turned on the timing mark. That is the slop in the timing chain (assuming no slop in distributor drive gear).

If >5 deg (very common), I would plan to replace the "timing set" (chain and 2 sprockets). I got a set for my slant on ebay a few weeks ago for <$30 w/ shipping. There is an upscale set right now for ~$130 w/ roller chain and 3 slots so you can set 4 deg advanced for better idle and mileage.

I would stick with the hydraulic setup. A bit less performance, but probably less fuss in the future. No yearly (or more) adjusting of valves. However, the flip side is maybe other issues like plugged oiling, collapsed lifters, or you run out of adjustment. If you change your oil regularly, hydraulic lifters should work fine, and most cars since the 1980's have them. I saw a hydraulic cam w/ lifters go unsold 2 times on ebay at $40 the last month. I see >$100 for the mechanical cam alone.