If it's worn that bad, I'd say the proper thing to do is remove the crank, have a machine shop check, and grind, with new bearings. Personally, I like to have the shop get the bearings to match the grind. If there is a fit problem, it's on them.
If you're going that far, yes, replace the cam bushings.
Who ever presses the new cam bushings in, do measure the rear one, so as not to block the oil port.
And, if you're torn down that far, maybe a new set of rings. Again, I prefer to use a soft set of rings, such as Hastings. Better to have the rings seat into the cylinder walls, than say hard chrome to cut the cylinder walls.
Might as well do a valve job while your at it. At least check, and lap if that's all they need.
If it's a keeper, spending this much now, will give you many years of service.