Ok, I lost my man card today. The exhaust cam sprocket bolt was loose, and the cam gear slipped off the pin and reseated itself in the other slot on the sprocket. So basically even though everything lined up, the exhaust cam was not where it should have been. I got so used to looking at the markings on the gear that I never bothered to look at the lobes of the cam.
This has to be one of my biggest DERP moments ever.