[Spridgets] Can this crank be reground?

[Lee Fox]

I picked up a 1500 engine with a known bad rod knock. It was free, but 
has the desirable higher compression head and flat pistons. I don't know 
what cam is in it yet.

I pulled the pan off and took a peek at the bearing. Number 4 was a 
mess, but the others were not too bad. This engine had been worked on 
before and had .30 under rod bearings and .10 under mains. When I used 
my "accurate" Harbor Freight digital calipers to measure the rod 
journals I came up with the following:

#1 - 1.840 - 1.844
#2 - 1.842 - 1.845
#3 - 1.835 - 1.850
#4 - 1.791 - 1.80

Question: Can this crank be reground or is it too far gone?
Thanks.