Yes, you can do it either that way, or determine at what degree they should be fully open.
I myself have adobted "full lift at xxx degrees"-method. More clear this way me thinks.
I do have an advantage since my pushrodder engine has inlet and exhaust valves operated by single cam. I tweak inlet spot on, and exhaust will follow. Twin cams = double the labour.
If you just need to have it running, and you're sure you have radical cams installed, just dial in say... inlet fully open at 102º ATDC. Dial in lobe separation of about 103º to 106º.
That should get you started, and who knows could be pretty close to final settings.