The crank can easily and cheaply inspected and cut and polished. Then its just using different bearings. Nothing wrong with doing it and often a great idea since many cranks are often not checked for several rebuilds.
http://www.partsamerica.com/ProductD...pe=529&PTSet=A
I've actually used their reman. crank b4 and good results. Has a warranty and bearings.
Toss the rods, any knocking will egg-shape the rod end and just cause more spun bearings.
Cross hatching looks good as long as there isnt too much ridge at the top. And I don't like Topline parts but I have used them b4 and haven't had a motor fail. Its kinda hard to make a bad bearing other than burrs (which you should check for anyways, regardless of brand. These are mass-produced and spot checked for quality). Rings, etc are usually hard to screw up other than using lower quality materials. But even them they shouldn't fail quickly. It's 90% user error. Whether poor bearing clearance, weak oil pump, over-rev, etc. its usually not bad parts. Just a poor rebuild.
Check the cylinder bores for out-of-round and size. If they are on the large size, just get the cylinders bored to the next size. Id also recc. getting the block hot tanked, have the head freshened up with new stem seals, make sure to check the guides, relap the valves if needed. New oil pump is a must unless the current one is new. But I would at least take the gear drive apart and check the case for wear around the gears. Replace if there is ANY wear.
Take your time and check everything. Its free to do inspections, but not free to fix the lack of.
Wiz