Clay, you don't need a scope to figure this one out, but you do need a timing light. If you don't have one, just get a cheap one from Autozone; you don't need anything fancy. Hook it up, point it at your trigger wheel, and rev the engine some. You will learn two things. 1.) If you have any misses, you'll see it because the light won't strobe cleanly/consistently, meaning a hardware issue somewhere. Check all 4 wires to know if you have a bad wire or plug somewhere, or if all 4 are bad, then a bad pickup sensor or coil. 2.) You can tell if your Megasquirt is correctly controlling the EDIS if the timing changes as you rev the engine, or if you are in EDIS limp-home mode you'll be constantly stuck @ 10deg. If everything looks fine, clean strobe and good advance, you'll then know it's a fuel issue. Though old technology, I firmly believe that timing lights are still the BEST ignition diagnostic tool available. How I found out that the crank position sensor was bad on a friends 2005 Lancer (no flash from any wire during cranking even though the coil had power). Good luck!
-Carl