Ive decided to go with a carb setup for my engine rebuild. I have arranged a place to have my head worked on. I need to take the head along with the new cam to the machine shop/

I do not know what type of cam I should use. I was told to use a hot cam. What is a hot cam??

A "hot" cam is one that has more lift, duration, and overlap than the stock cam. There are a lot of different cams to choose from and the process of choosing a suitable cam depends on may things. The basic consideratons are:

Desired results (what do you want from the car?)

Budget

Carburettors used

Exhaust system (headers? stock manifold?)

Head work (porting)

The cams tend to be described as Stage 1, Stage 2, Stage 3, etc. Stage 1 being a small power gain, suitable for street use, and comaptible with stock valve springs and related hardware. Stage 2 offers more power gain, might seem unsuitable for street use by some drivers, and probably will need other engine mods to realize maximum benifits.

Read the descriptions offered by the cam vendors to begin learning more. Look for Crange Cams, Isky Cams, Web Cams, and Comp Cams to name a few.

What might be the cheapest stage 1 cam? Or something a bit tighter than the original 240z cam

Here are a few from Rebello Racing (they also do custom grinds):

Duration/Lift Lobe Center Spring Set

220-.440 106B 111 Mild 4 or 6 Cyl A

279-.487 63DE 109 Hot A

279-.540 63DI 109 Hot B

300-.600 325C 104 To 108(Road Race) C or D

We have our 50 other Profiles for custom applications.

Remember.......Higher lift reground camshafts require performance springs and different lash pads to center the wipe pattern on your new rocker arms. If you go with a new cam, I would highly recommend Stage III......very steetable and you can actually feel the difference. IMO