It's even worse than that--a bearing surface on a crank journal will be specced in ten-thousandths if an inch (~2 \u m). Width of the journal isn't typically as precisely specced, but for an aircraft motor journal width is extremely important, as the crankshaft is placed under high thrust loadings. While there will be a thrust bearing, crank endplay on an aircraft motor is even more critical than on an automotive engine.
I have no sympathy for the businessman who had the cranks made, something that far out of spec should have never made it into a customer's hands. If you are serious enough to invest 30k in tooling to get parts made, you should also be consulting with an experienced engineer and lawyer who both have experience dealing with Chinese suppliers.
Even more dangerous was that he was selling cast cranks as billet. Without doing x-ray good luck finding occlusions in a Chinese part. It could look fine and even measure out fine (these did not thank God) but have bubbles within the casting.
There is a reason forged and billet American performance car parts are expensive!
There is a huge amount of testing, engineering, and quality control that goes into a crank made by Bryant or Callies.
I have no sympathy for the businessman who had the cranks made, something that far out of spec should have never made it into a customer's hands. If you are serious enough to invest 30k in tooling to get parts made, you should also be consulting with an experienced engineer and lawyer who both have experience dealing with Chinese suppliers.