I purchased a set of new Crower cams M 62502 stage II cams....and unfortunately...I did not get around to using them quickly....and did not store them correctly....so I have some minor rust on the cam journals and cam lobes. Should I polish this up with a fine grit sandpaper? What size grit? Does anyone have other ideas on what to do here?
thanks

Cams and relevant parts usually arrive in protective fluid/grease wrapped in a further protective packaging. If you removed all this and left them open to the elements you are seriously inviting critisism.

However, if the rust is only surface rust by that I mean hasn't eaten into the metal you may be ok with turps and a wipe. If it has bitten in, that material is approaching the boundaries of it's maximum hardness (65~68HrC). New Cams are made from Iron Carbide impregnated Cast/Forged Steel and sandpaper will have little effect - the risk is your's but I'd chance it with a little Aluminium Oxide (White) paper as fine as you can get it (1600) and be careful not to remove too much.