Hey James,
The method works great and is really depends on how well you measure to get good #'s from it.
Lets see. About camber and toe direction... On the Miata, the tie rods are towards the front on the upright. So as I increase the length of the lower control arm to gain camber the front remains a fixed length and will be slightly shorter than the back. If your car adjust toe by the play between the strut bolts and upright then I would think it would lean towards toe out since you are making the center shorter. Depends on application.
As for the strings, that is a good method as well since you know the track differences. When I string the Miata, the center gap difference is always dead on so I think you would be ok. In my case, I generally run the rear with 0 toe. Mazda has reference points on the chassis to set the rear wheel parallel with the rear subframe. Hopefully the subframe is true to the front but there are ways to check that as well.
For A,B ?. Sorry, long day yesterday and my post was a little confusing.
Once you have the string set, adjust the left front wheel to have zero toe based on the string as a reference. At the same time, make sure the steering wheel is pointed straight ahead so that the car tracks straight when the wheel is centered. (My ocd kicks in if my wheel isn't perfect)
Then using the left front wheel as a reference, adjust the right front wheel using toe plates. Again, checking to make sure the wheel is straight.
After every adjustment and before each measurement, roll the car forward and back to the same spot to settle the suspension.
An example of toe plates are here:
http://www.saferacer.com/longacre-toe-p ... ductid=486
I made some out of a section of aluminum I found at Lowes and they work great. If I get a chance to take a picture I will post it for you.
If the work space is level across the car then you will be OK for setting toe. The absolute measurements for camber will be a little lower on the front and higher on the rear if the slope of the floor is lower at the back of the car. Depends on how much slope.
Once you give it a try you will see how it comes together. Overall it is fairly simple but a little tedious at times. Best of luck and hopefully this helps out!