Hey guys I have a 68Fbird w/a 455 6x heads - performer intake, Deamon 750, Mallory HYFire, 2000 stall, TH400 trans, 3:08 gear.  I was using a COMP XE262H cam.  I had previously used the cam in a 400 block that I was running in the same '68.  The cam is a mild 218-224 and lift is only 462-470. I've got two lobes on it rounded about 1/4 to 1/2 down.  The lifters are somewhat "mushroomed".  

I talked to COMPS tech line today we checked the spring height and seat pressure (both are well within spec) i was explaining to the guy how I had this cam in a 400 before the 455 and how I had purchased new lifters when I put it in the 455.  He said that was the reason for the ground off lobes.  He said 99% of the time, you will have cam lobe failure if you use new lifters with a cam that has already been broken in.

Last night I drained the oil and put a large magnet in the catch basin. There was NO sign of any metal particles in the drained oil. It was very clean and on top of that, this 455 has always had good oil pressure.  50lbs on start up, 40lbs while driving and 15-20lbs @850 rpm idleing on any hot day.

What do you guys think? Bad lobes becuase I used new lifters for a second break ***

Also - Should I pull the engine and break it all down? I mean the metal has to go somewhere right?

Thank you for your response.  

COMP is correct. You want to use the same lifters (in the exact same positions) when moving a cam from engine to engine. Once a cam is broken in, the lifter and lobe become permanently "mated" because of their unique wear patterns.

No oil in the pan? You have a good oil filter then. If you saved the filter, cut it open and see if the amount and type of deposits matches your cam and lifters. A lab can also do this. Also, take a look at the bearings for abnormal wear. When things go south, the bearings will suck up whatever is in the oil.

If there is any damage to the rest of the engine, it's already been done. If it were mine, I'd put a new cam and lifters in, and run it until it gave up the ghost. Beyond that, new main and rod bearings would be a good choice.