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All you need is a $20 degree wheel, a cheap $20 dial indicator and a piece of bent up wire for a degree wheel pointer. A crankshaft turning nut is nice to use too.
Probably not needed on a street motor but I have done it to all my motors anyway. I just want to make sure everything is setup correctly. I only had to buy a degree wheel and mine is not the high dollar one. I had all the rest of the tools. See if maybe you can borrow some of the tools if you plan on not using them again. Just remember they are precision tools so treat them that way and if they are someone elses I always return them in as good or better condition then when I borrowed them.
I have a LARGE degree wheel, a cheap dial indicator and a magnetic base. The bigger the wheel, the better the accuracy. You can download a paper wheel and attach it to cardboard if money is realy tight. You CAN do this for a song if you shop it hard. The dial indicator I have came from harbour freight so I don't expect much but it does deliver good results. Very inexpensive.
One very important thing about that LT-1 cam - do not try to use the "lobe centerline" method to degree this particular cam. It has an asymetrical lobe design so the lobe peak lift point IS NOT at the center of the lobe. If you try to use the lobe centerline method, you will look like you are a few degrees off-time. Use the cam card lift checking figures (at .050" or what ever they have on the card) and you will be fine.