Yes - precision measuring isn't required to diagnose a worn cam lobe, unless you want to catch one BEFORE it makes a noticable impression on the drivability. By the time they start to make the engine misbehave the lift is significantly reduced, and fairly obvious even just eyeballling it while the engine is cranked over.

From the latest description it sounds like an ignition problem to me, possibly a bad coil or condensor? As hard as it is to get D-jet to work *perfectly* it's also rather hard to get it to work so poorly. It will even run with some of the major componentry disconnected, like the temp sensors and MAP. You could run it hard like that, then quickly pull over and shut the engine off, and take a look at the plugs. It's unlikely that too much fuel would cause the engine to cut out like that, but running lean could - in which case the plugs would look all pale and ashy. A tan color means they've been getting about the right amount of fuel, black means too much.

Weak coils usually seem to show their presence first as a sort of wavering weakness at full throttle - the higher combustion chamber pressures at WOT make more resistance over the spark plug gap (my half baked theory). Only suspect that after you have carefully set the point gap, then the timing. Probably not a bad idea to throw on some a new points & condensor set unless you've done that quite recently, just to rule out a bad condensor (I don't know how to test a bad condensor).