The workshop that did a go-cart crankshaft for me fixed the runout by mounting the crank in a lathe at one end and then checking the runout with a dial indicator at the other end. They marked the high spot and then used two soft blow hammers to tap the crank around until it ran true.
funny thing -- i took an old corroded 288 crank today in a 20 ton press and bent the steel punches, snapped the carbide. Would anyone know if there's an on - off side? Or maybe a special way of holding your mouth?