Badly Worn Distributor Gear??

[jtrent]

My 96, k2500, 454 stopped on the interstate and wouldn't fire. Diag revealed that the distributor gear was badly worn and was slipping out of mesh, thus incorrect firing. I have never seen this before and was wondering if anyone else has run into this nasty issue. I have some decisions to make, motor has 115K on it, no oil usage, no leakage, ran well up to this point. Do I 1) Rebuild, 2) replace cam and distributor or 3) replace distributor and take my chances with the cam. I think the cause of this was the distributor bottoming out in the oil pump and therefore putting a strain on the gear mesh and eventually waring out the contact points. Ideal and suggestions welcome.

[LONGHAIR]

All of the "worn off" particles are in the oil..............anything is a risk at this point.