yes too tight. the most critical area (in the oiling system) is providing for the rod journals/bearings. Check w your crank grinder but might not be able to get the clearance you need by polishing. It'll make it out of round. Polishing is more for achieving a smooth finish. Keep searching for the correct oversize bearings you need. Peruse the SB "parts for sale" for a set of the shouldered 4 main bolts you need for the tray and do not use the large washers on the large bolts "if included" w them. there's a set (+ the tray) in there a day or 2 ago for $25 & I'm tempted to grab it myself even tho I dont need it (at the moment)
cause the price is right and someday I will! Use flat washers or flat spacers between the tray and the large bolt shoulder to adj the tray height. Also check that the main bolts are not bottoming out