bert--
Well, you didn't explain how that "peak lift" method works.
A camshaft doesn't know (or care) what kind of engine it's in. Cam lobes are cam lobes and there is one, and only one, correct place for the lifter to be when the clearance is set and that is when the lifter is on the BASE CIRCLE of the cam. That is roughly the bottom 180 degrees of a cam lobe and the closer you can get to the middle of that arc, the better off you'll be.
Overlap has little to no effect on choosing the correct place for the crankshaft to be when the valves are set. There isn't that much difference in overlap anyway, from the wildest high-rpm cam to the cam in a 1600 rpm Cat diesel.