On the race engines I build, we don't trust Plastigage at all. I decide what clearance I want, measure the bearing inside diameter, and tell my machinist exactly what diameter I want on the journals. That's a lot different than the normal way bearings are clearanced, but somebody who is building a $3,000.00 crankshaft from a solid billet of metal will do pretty much what the customer wants.
"Mistakes" like you're describing, plus the too-tight turning torque, would make me very reluctant to use that crankshaft. If you can find one that hasn't been butchered up by an incompetent machinist, I'd reccomend replacing that shaft. It's the backbone of the engine, and taking chances on it might doom your overhaul job to premature failure.
Jerry
