It isn't likely to be off w/o a degree job, but you wouldn't be the first or even one of a few that has had a cam that was off enough to cost a lot of power. Of course if that is the case PG cn suffer...

I wouldn't sweat the degree deal at this point, it just makes this that much harder to figure out. That is why I always post to do the check while it is apart. Rules that out right off the bat.

The timing tab not being dead on with the balancer mark could have you off from what you are seeing on the light as well.