If the copper is visible, the bearings are toast. Water in the oil can do this fairly quickly. Not a whole lot of difference between car and boat engines when discussing common engines in Classic Glastrons. You will be disassembling the entire engine anyway, so unless just for your own interest, you find some numbers on the cam, I wouldn't worry about it's specs. If the crank bearings are that bad, rods, cam, and lifters likely will not look good either. Full rebuild could be $3k+ depending on the power levels you look for, might consider a drop in long block, would save time and money, but you will have lots of cleaning to do. Good time to upgrade fuel and ignition system.
Oh the bearings are past toast, and the crank could be turned, but I am just going to buy new
The engine is fully apart, I cannot find any numbers on the cam, but the cam bearings were spared the carnage and don't even look like it was run
Lifters are not scored, but jelled up, cylinders are not scored, pistons and heads look great
So fortunately it isn't going to be anywhere close to $3k or even the price of a crate long block
I am replacing all gaskets and seals
I don't like the junkie stock headbolts, everything else looks good
As far as fuel and ignition:
The boat came with the original 305 manifold and 2 barrel carb (anybody need a really clean 2 barrel?)
I already replaced the manifold with an Edelbrock, and was already planing on buying a new 4 barrel carb, so I did not include that price below
Distributor is in great shape so I am just going to change to the Hot-Spark electronic ignition replacement for points, again a long planned change not included below
I don't think I am missing anything:
cam & lifters $218.00
springs $66.00
rings $120.00
timing chain $35.00
crankshaft $193.00
bearings $40.00
gaskets $43.00
headbolts $145.00
valve seals $22.00
TOTAL $882