Howdy Back Kenny:
You've given yourself a couple of tail knots in your project parameters and goals. Because an original '62 170 is a mechanical lifter engine. The good news is that you have adjustable rocker arms. The distributor is a Load-O-Matic, vacuum only piece. You could swap in a hydraulic design cam from a '67 200 engine, but the increase in duration is minimal; 240 - 170, 252 - early 200. lift goes from .348" to .368". Note the difference of .020" is not even the thickness of a cover on a book of matches. And running solid lifters on a cam designed for hydraulic lifters may suffered from unusual wear.
The cost of replacing a cam usually requires a cam kit and other parts, usually about $50. Add new timing gear and chain. Replacing cam almost always requires removal of the head. More cost.
May I suggest and alternative to your goal of "a Little more power, and more mileage."
1. go ahead with a valve job. A stock '62 170 has a CR rating of 8.7:1. To attain more mpg a little more CR is the way. Set a goal of at least 9:1, and plan for a thicker head gasket when milling. Also specify at least a three angle valve job with a back cut on the intakes. The back cut functions like a higher lift valve action at no additional mechanical stress. Be sure to disassemble the rocker arm assembly and clean inside and out.
2. add a PetroniX Ignitor to your stock distributor and add 5 degrees of additional advance over stock. Open the spark plug gap to .045".
3. You mentioned "Restoration" which will seriously limit carb choices. The only carb listed for '62 Comets is the Holley 1909- Not to be confused with the more desireable side bowl 1904/08. On a 170 engine the #1909 is rated at 150 cfm. The '62 #1909s also had an automatic choke while all other one barrels had manual chokes. If you're willing to compromise on the restoration goal, you could find a Holley #1904 Glass Side bowl carb from a 1962 ford car engine with a 223 six. These carbs are rated at 170 CFM and compatible with your distributor.
4. Find and clean up an exhaust manifold from a '67 or '68 vintage. Your stock '62 had a very weakly cast exhaust manifold with a 1 3/4" outlet with a flat gasket to seal it to the head pipe. The later manifolds have a 2" outlet and are cast heavier, with a Donut/firewall type gasket. Add a 2" exhaust system with a turbo type muffler and enjoy.
This plan would be good for a solid 10 to 15% increase in power, and tuned right will get great mileage.
Give it all some thought. Start by assessing what you have, how much you plan to spend, what you can do and what must be hired out. then go for it.
Best wishes.
Adios, David