Has anyone used both methods back to back to measure chain elongation ... to compare the results of the two methods ? I worry that with the "easier" method that something is being lost.. like a factor which might have the wear from two items offsetting each other..

I would also argue that the dial indicator is not a hard procedure.... you can get the tools for $25 or less... and know you are doing it like the engineers specified....Since it is "rather" important to valve timing... and you are measuring the valve timing directly when you use the dial indicator... it might be worth it for accuracy and longivity out of one's engine....