"A pit in a roller" doesn't necessarily mean the cam lobe is damaged. Sometimes a roller can be improperly case-hardened and have a weak "skin" and it can come apart. There's a chance it won't harm the cam. You won't know until you closely inspect it.
How far you wanna dive in is up to you and your time and money budget. We've covered what NEEDS to be done based on the problem(s) at hand (oil consumption and leaks, ticking). If you can and wanna go further, it certainly could only be for the good. Let's consider the aforementioned as "Stage 1". If you wanna step into "Stage 2", that would be opening up the front and replacing the timing set, oil pump, possibly the cam, and all associated gaskets (water pump, oil pickup O-ring, front crank seal, etc.). I'll call pulling the engine to replace the rear main seal and cover gasket "Stage 3". With the heads off, getting at those top bell housing bolts is really easy, so pulling the engine isn't much more work. You could pull it, replace whatever, reseal it and drop it back in. Front and rear cover and oil pan alignments would be much easier outside the frame rails. All said and done, you'd pretty much be guaranteed your motor will have no oil leaks nor will it consume/burn any beyond normal reason. After doing this to my brother's 185K+ mile 5.3 (and then some!), I can tell you it's quite refreshing to get under a high-mileage engine and it be as clean and dry as the day it rolled out the factory. It's almost creepy, actually.
But, yes, confirming that the bottom end is up-to-par is the first step.