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I think if you have the main bearing caps align-honed, the crank has been moved slightly toward the cam. This would change the relationship between the two and may slightly alter the cam timing.
I degreed mine to check and make sure that I had the correct cam and double-checked the piston/valve clearance since I was using higher ratio rockers. I didn't alter the timing although my cam appeared to be 1 degree retarded.
I felt a little smarter knowing that I learnd to degree a cam too!
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