Once you've got it stripped, check the crankshaft. You don't need anything special to do a fast and dirty check.
A couple of axle stands will do, if you can tack weld a two pieces of 2"angle iron to them, to act as vee blocks, so much the better. If all you have is some 4" x 2" timber(2" x 4" lumber for the cousins!) a wooden cradle will do for a one off.
Support the outside ends of the crankshaft then rotate it and watch the inside ends of the shaft, it should all run concentrically. a stiff wire in a block of wood will easily show 0.020" (20") - 0.5mm to the naked eye.
Search the forum, 'cos somewhere there's a post from 38ac - Butch - on straightening crankshafts with a bottle jack and the lintel of the barn door, failing that you'll need professional help.
Check the bearing surfaces for roundness, a cheap vernier from Ebay will get you close. The OD should be the same at all points.
Easy, a couple of hours work on a sunny evening!
Cheers
Stef