When installing a new crankshaft in a block the first thing you do is make sure the block and crank are clean. Install the block half of the main bearings [do not install the rope seal now] in their respective journals, lift the crank and carefully lay it in the bearings, install the cap half of the bearings in the caps and carefully install them [ make sure the correct cap goes in the correct lacation], oil the threads with engine oil and install the bolts, torque them to the proper specs. Some people use plasti-guage to check the clearances, if you do, this should have been done prior to installing the caps. After the bolts have been torqued, if you used plasta-guage remove the caps and check the clearances. If you didn't use plasta-guage use your hands and turn the crank over, it should turn easy. If you have a dial indicator check the crank for end play,if every thing checked out good, now remove the crank and prepare to install the rope seal. Install the rope seal dry! Place the rope seal in the groove of the block with your hands and then use a hammer handle work it down in the groove, now use a razor blade or very sharp knife and cut the rope off flush with the block. I usually use the hammer handle as a back up and cut the seal from out side toward the handle. Do the same for the cap. Now lube the bearings and the seal surfaces of the rope seal. I put a small bead of no.2 permatex on the block leading from the seal to the outer edge of the block where the cap meets. This will prevent any oil seeping through. Oil the threads again and torque the bolts to the proper specs. Now turn the crank over, it will probably turn a little hard but that is to be expected.
Now when installing the rods use some kind of thread protector so the rods DO NOT HIT THE CRANK !! I have seen perfectly good overhauls ruined by rod bolts knicking the crank and in just about 20 minutes the bearing seeze up. When the rods and pistons are installed I would advise using plasta-guage to get the correct rod bearing clearance.
This is pretty long but I hope I have helped you along.
