That font is interesting.
WhatTheFont identifies Aurora Bold Condensed as a close match, which looks like this.
Close, but no lei, as there's a lot more curve happening in Aurora. The card font might be completely custom work, but add a note if you can ID it for sure!
|1977 "Topps Update," Luis Melendez|
|1977 "Topps Update," Dave Roberts|
That blog's San Diego page also sports a 1977 version of my 1976 Hawaii Islanders #5 type card, none other than Dave Roberts. His feature page ("Mr. Roberts?") goes into some depth on his career path, which started high as 1972's #1 pick, continued well in 1973...followed by a long slide down from there.
One of that blog's readers noted Roberts made a rather sloppy play to end the 1981 Divisional Series as a Houston pinch-hitter. I've linked the game broadcast above and Roberts' at-bat starts at 1:58:10 and the broadcasters give a slo-mo breakdown a couple minutes later, in case you want to know why you should check for dropped third strikes.
Value: This #5 single currently lists high on eBay ($8 + shipping), but Caruso team sets sell for a more reasonable $15-25, with no stars in its checklist to chase. That says as much about the quality of San Diego's farm system as anything, unfortunately.
Fakes / reprints: Haven't seen any fake Caruso minor league cards in the marketplace.