Alright!
It took a while and a lot of patiance, but in the end i got it to .0005 That's less than 1/2 a thousandth of an inch.
How I got there is very much by desperations. i took my 0.018" inch feeler gauge, and saw that it was still loose in the connecting rod to crank. So in desperation, I took the whole crank, put in the 20 ton press, and using an over size socket i firmly pressed on the two crank halfs until I heard it move. (My feeler gauge was firmly squeezed, but not stuck) Lucky me.
I taught this was it, I put it back in the jig, and VOILA! less than a thousandth of run out.
CONCLUSION: Yes it is possible to swap crank parts in these motors. Just plan on being patient and have yourself s a plan of attack and it can be done. If I was able to do this in a "tempo" tent. I'm sure anybody can do this now.
I hope this inspired a few that also were wondering.
All you need is a jig and a set up like the one Bruce and I have.
I already put the rebuild crank into the engine, I must say this: I am feeling a whole lot better knowing the condition of the crank rod, bearings and tollerances. Thank you everyone specially Roy for your measurements and Bruce for your input measurements and advices and IDEAS!!!.
Here's the rebuild short block:
