You cannot be certain of the state of any component so you have two choices 'suck it and see' or 'check it out'. The latter is almost impossible to do completely unless you have a battery of facilities available.
The crank... has it any cracks ? .. is it dimensionally correct? ...has it the correct hardness? ...is it balanced?
You can strike it and see if it rings correctly, you can do magnetic or chemical crack testing.
It may have been reground but was it done correctly, to the desired tolerance and without inducing stress points?
I tried a few ways of mounting the crank in the lathe. A live centre in the tailstock and a centre in the headstock. Then I made up a bearing to fit inside the rear housing where the clutch input shaft goes. Then a three jaw chuck on the shaft itself. All these were attempts to reduce run out. Currently it is about .o4 mm or 1.5 thou so I am trying to reduce this. I may have to go back to checking out the lathe bed and tailstock alignment as it may have moved since it was set up years ago.
And then a dynamic test.
TOPIC
There was no perceptible vibration at this speed but I would like to quantify any there is. My very sensitive DRO should pick up any so in the absence of strain gauges, velocity transducers and other sensors that make up a professional balancing system I will see where I get. I have been looking at various designs of equipment and seeing how they achieve balance. My worry is that all this very expensive equipment is only as good as its operator who may be trained to balance a Chevy V8 but a Jowett flat four?