Actually Puck, getting everything lined up "rotationally" so to speak, would be easy as attaching degree wheels to the sprockets and crank. Measure an assembled engine before you take it down to know how many degrees off of TDC the valve opens/closes, then you would know how far from straight up you'd be once the adjustables are done. No need to be dead on with the machining/welding since the cams would now be adjustable. That's as easy as pie. Then you're just dyno runs away from tuning them in.
I'll bust open a 3L cam tonight to see how those sprockets come off for sure... That should save you guys some speculation and time/money if you choose to experiment with "live" cams. Now, where the 3 pound sledge...
BTW, those buttons on the ends of those cams pictured don't look like the stock ones to me. I seem to remember a larger center hole with a 3/8" oblong-ish hole in the center. Press in, or screw in?