Though I've always followed the Haynes method until now, I've been thinking about this method prior to this thread, and this is the method that "makes the most sense" to me;

when cylinder #1 is @ TDC on the combustion cycle, I have to figure that the cam lobes for that cylinder, both intake and exhaust, are well-clear of acting at all on the lifters/rockers/valves.

i have to figure both intake and exhaust valves have been closed since approximately BDC (to facilitate compression), and that they will remain closed until approximately the next BDC (to facilitate the power stroke).

this would lead me to believe that there would be quite a bit of forgiveness in the position of the crankshaft using this method.

Furthermore, if you keep your engine clean (nod) you can use the timing marks on the crank pulley to dial in TDC for cylinders #1 and #4. I have a mark opposite the "0 degree" mark on my pulley to pick up BDC as well, for cylinders #2 and #3- and thus you can avoid having to use valve movement at all to locate the proper position for adjustment; you just have to verify, as you reach TDC or BDC, which cylinder you're adjusting by checking the cylinder pairs to see which is exhausting.

Seems pretty idiot proof to me.

Plus, it only requires 1 full rotation of the engine, if, as VFH said, you adjust in the firing order, 1-3-4-2.