A crankshaft grinding lathe is a pretty large and involved chunk of machinery. If your lathe can swing enough, you could get away with working just the mains on a regular machine, assuming you compensated for droop and sag.
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Jack Scholler Equipment - Automotive Machine Shop ...
Just saw today's "Article Spotlight" about having to remove the JD 2010 engine in order to grind the crankshaft because of a bad rod bearing. Got to thinking about years ago when a local machinist had a portable grinder.