Cam degreeing. I totally don't understand.

If your using something like a roll master billet gear and chain setup you would think something like that would be dead on dot to dot.

The quality of the chain set really doesn't correlate with how accurate the installation will be. That's because whoever makes the timing set may cut their sets a tick off from the camshaft and crankshaft. The camshaft keyway might be a little off from the crank keyway. Both could be off from the cam and crank sprocket. There's a lot of room for error when you're talking about 360 DEGREES of rotation. That right there is exactly why you should degree every single camshaft. Every one.

Now, if you use the same BRAND camshaft and timing set, you do reduce your chances of being of somewhat. Even then, since we're talking about degrees, there's a chance for discrepancy.