Actually, the crank will rotate twice while the camshafts rotate once. A 4 stroke engine has two revolutions per power stroke. What you are doing is correct, because the power stroke is determined by the camshaft, not by the crankshaft. In cars with distributors, you would have to make sure the correct cylinder was firing when you hooked everything back up. If you were 180 out of phase, you pulled the distributor and rotated it 180 degrees so the correct spark plug would fire. In an electronic ignition with a crankshaft position sensor, I'm not sure how this works.
Just reread your post, and if the camshaft sensor works as you say it does, your good to go. I don't know enough about these newer ignition systems to be definite.
Last edited by bigwong; 12-25-2012 at 08:32 AM.