Interesting and very worthwhile project. I made one some years ago and initially went down the route of a sliding table for the motion - that gave a bump on the top of the cam as it changed direction even though it was made well and with IGUS ptfe linear slides, I couldn't get rid of the bump. So I changed it to a hinged action like I think you have there and that totally solved the issue. The other mistake I made was to use an air motor to rotate the cam being ground, (with massive epicyclic reduction) - just because I had one to hand, the thought being I'd have smooth and infinite speed control through a regulator, without buying a DC motor. Well that appeared to give a very smooth rotation by eye but having ground a cam profile it was clear that it was a very pulsed rotation, so I changed it to DC motor - running around 30 rpm and that is perfect. Works best removing a thou (0.001") per rev. Enjoy the project and keep us updated!