Van, here's my .02 for what it's worth.
I've coated a crank with molydisulfied, and it was a great deal, right up to where I found out that washing out the crank WITHOUT pulling the plugs is a really, really really really bad idea. (There is quite a bit of crap hanging out in those oil passeges...)
That engine died a horrible death due to trapped hidden sand blasting media that then destroyed the bearings and crank along with them.
OK, round two! Stroker motor number 1) Crank was knife edged, and the stroke was changed by welding up the rod journals and then machineing them to a 2" size that uses 327 SBC bearings. This was fine untill a mechanic thought he would take a ride in my car.. Did not have the fuel pressure regulator or boost controller hooked up, and you guessed, it engine #1 was a bust. (Actually twisted the crank slightly... )
Stroker motor #2. Sent the crank back to Crankshaft Specialist in Tenn. (The guys who did it the first time.)
They hard chromed the journals, and then machined them all to the right specs, true as can be again. These guys did the original knife edges too. The hard chrome journals really did not look that special, but they are dang hard! We basicly just checked the size, and for true, and it was already polished. The only thing I had to clean up was they left a cross hatch on the thrust bearing surface, and I think that can strip away oil where you want it to stay, so I polished it, but that's it.
If you want to coat something, coat your bearings. The crank is not touching the bearings when the engine is running. But it does when the motor is shut off, and it is started. (My setup pre-lubes the engine before I crank it over, so there is very little wear.) But, as noted, there is some contact when it's shut down, and started. At those times, the coatings do a great job of keeping oil between the parts as much as possible, and since molydisulfied is a great high pressure lubricant, it does the job when the metal forces the oil out of the gaps.
I coated my bearings, and it seems to have worked very well, and it was much less work than trying to coat the crank. (I pulled the plugs on even this "clean" crank, and found more crap in there! Pull the plugs, use pipe cleaners, and rifle bore brushes on your crank! I can't say enough how much dirt, carbon and crap is waiting in there for oil flow to push it into your bearings.) When you put new plugs in, use loctite, and stake them back down, so they can't come out. I used easy out's to remove them. The allen heads will just strip, so I just go straight to the easy out for this.
Good luck.