Camshaft sensor (CAS) voltage test results.. need help here?

Car is an Eagle Talon 96 2G ESI. I've been having a cutoff problem and trying to narrow it down.

Symptoms: Car dies while driving or idling within a half hour, sometimes 10 minutes. Can start up usually after 5 minutes or so but then repeats the cutting off.

Results: When car dies and immediately will not start back up I test the power going to the coils and only 0.07v. When the power shows 12v I plug back in coil pack and starts. So I know that the ASD (MFI) relay is either cutting off and bad or something is telling the PCM to not send power to it. In this mode the fuel pump does not prime either. I'm pretty sure the PCM send the command to the ASD (MFI) relay which then allows power to pump, coil pack and injectors.

I tested volts on the cable that goes to the camshaft position sensor because I'm suspicious of it but the results don't make sense but I am a newby with a multimeter :s

The middle wire appears to be black and ground and doing an ohms test it appears to read either 001 or 002 set on range 20ohms on meter. Most things seem to say 2 ohms or less is good.

I test for voltage on the other two wires being blue with red stripe and one is yellow. Both show 0.68v with the key turned to the ON position. My understanding is that one should be 12v and the other is the signal which should be anywhere from 1.5v to 5v. I'm not sure if that is correct but the Haynes manual says and also read on forums.

One important note is that I can tell if the car will start with key in the ON position because it will show the check engine light along with the red indicator lights when you turn key to ON. Also the radiator reservoir symbol. If I pull the plug on the camshaft sensor and turn the key to ON it shows only the red indicator lights and will not start but the strange thing is if I plug the camshaft back up and turn key to ON after doing that it will not start for awhile. Like something has alreadt told the PCM something and now on a timer before allows to start. weird.

My personal opinion of this is the test doesn't mean much unplugged because the second the PCM realizes the camshaft sensor is not connected or functioning it appears it cuts power to it as well as the coil, pump, injectors, etc. So the test of voltage may mean nothing and makes sense I guess.

I think if I was to remove the insulation on the power wire and signal wire that while it's connected I would get actual voltages. Because the PCM shuts power to everything immediately if sensor is not communicating or senses it. And just the same, the car will not start if I have CAS unplugged.

So no reason to bother to test voltage while cranking.

What do you make of all of this??????????????????????

Thanks in advance :)