Not much varnish there for sure.
How is the valve lash and
How do the cam lobes measure over the nose .
Only two cars I'd want to keep forever:
My '65 Buick Electra 225 nailhead convertible
and My '81 Chevy S10 V6 2wd pickup with the rochester Varajet and the big port heads.
Unfortunately they are long gone. I had them when I lived in an apartment in my mid 20's and no place or extra money to store them.
No varnish at all, but what you see is residual oil. It's been 50k or so since the last VC change. Valve lash? No need on this engine TMK. Timing chain and engine remain quite, and the engine still performs very well with no increased oil use. About 4-6 0z in my normal 10K OCI.