When I bought the car, the original owner told me he put a "mild cam" in my Camaro. It has no real lope, and I have no basis to gauge how it affects my engine. So my question are, what is a mild cam, is it worth keeping, and would the only way to see what cam I have is to remove the cover?

 

May not be able to see what cam it is, even with the timing cover off. Plus pulling the cover will require loosening the oil pan, and then you might as well just replace the cam at that point. A mild cam is probably something in the 250-260 degree, with not much more than .450" lift, and maybe 112-114 LSA.
Whether it's worth keeping depends on what you like, and what you want to spend towards upgrading. If the rest the engine is stock, then I'd probably leave the cam or be prepared to upgrade other things at the same time.