If you have a worn cam lobe or lobes it's highly likely that worn follower(s) are the culprit. Once the case hardening had failed on one surface, the other surface will rapidly be damaged. Getting the cams re ground is not an option so you're looking at a new camshaft of perhaps camshafts and new followers - best replace all lest others fail.
The cheapest option is 24 followers from Schrick and secondhand OEM camshafts. Schrik add an additional coating to OEM followers but sell them for less than BMW charge customers for OEM followers (so clearly BMW are happy to rip off their customers).
Next cheapest option is the followers plus new OEM spec or new CSL spec cams from Schrik. This carries the additional cost of new cams vs used and the cost of a remap if you go with the CSL cams. Bear in mind that the extra power you get at the top end with the CSL cams is in exchange for a reduction in low end torque.
Next most expensive is to pay BMW to replace the cams and followers with OEM.
Finally there's the option of the Schrick "race" cams that require a vanos delete and remap as well as leaving you with a car that doesn't like to idle and is severely lacking torque at sensible RPMs but one that will rev its nuts off.
I'd be very surprised if you have an issue with the bearing shells and it would be coincident not consequent upon the problems at the top of the engine. However, I would suggest having them replaced as preventative maintenance.
The E46 M3 boys seem to think the cause of this problem is a lack of oil supply to the top of the engine. This might make sense as oil is simply sprayed around the top of the engine and over the valve gear not specifically supplied to the interfaces. Ask your indy to check the oil ways and clean them thoroughly.
Our cars have a wet sump but it's described as quasi-dry (it's baffled and has a couple of scavenging pumps but still there's an oil pan at the bottom of the engine). As such, oil pickup shouldn't be an issue, even under heavy cornering or aggressive changes in velocity such as during track use. I would, however, check the quality of your oil, change it more frequently in future and look for any evidence of overheating that might have structurally damaged the oil. I check the coolant and oil temperatures continually on track (the former with an OBD II gauge) and come in when the car starts getting hot. I also change my oil at least once between every scheduled service.
I think you're going to get a big bill but you can moderate this if you can source good used cams. Think carefully about paying extra for CSL cams as tuning normally aspirated engines is an expensive root to more performance, especially when compared with the bang-for-buck gains of bolting on a supercharger.
Lastly, if your indy seems unsure or hasn't encountered this before, it's definitely worth taking a trip to see Phil at CPC.