The two outer camshaft end bearings also have a little groove pointing toward the center of the head. The "troughs" between the bearings collect oil up to a predetermined level. Once the oil reaches this level, it spills from the outer troughs into the inner ones, which in turn drain the excess oil back down the cam chain tunnel and back into the sump. The cam lobes get a bath of oil in the troughs with every turn.
As for the pressure loss question, I'll have to dig out my old machine design textbook and see what it has to say...