Your block still had some stress in it when it was machined and now that journal in the block is twisted. That is why they used to 'age' castings for several months after they were made, so they would relieve their inner stress and the final machined surfaces wouldn't 'move' or twist.
You don't say how many hours or years or whatever miles is on it.
I am thinking the proper repair would be to line-bore or line-hone the crank bores to get them all back in line with each other.
On the other hand, it has 'machined'(worn) its own clearance and if you put it back together with the old bearings, and it doesn't move any more, it will probably run a long time. If you put new bearings back in it, it will probably freeze the crank when you torque the caps. Or spin the bearing soon after you crank it.
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Today's Featured Article - Restoration Story: Fordson Major - by Anthony West. George bought his Fordson Major from a an implement sale about 18 years ago for £200.00 (UK). There is no known history regarding its origins or what service it had done, but the following work was undertaken alone to bring it up to show standard. From the engine number, it was found that this Major was produced late 1946. It was almost complete but had various parts that would definitely need replacing.
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