Max 360 Main Oil Clearance

Diametrical means accross the diameter in this case. The bearing bore is not truly round. It's eggshaped. So the clearance you're measuring is the diameter, from the center of the top shell to the center of the lower shell. If you were to measure accross at the parting lines you'd see the "bulge".
Yes - it's greater than .002". Closer to .003" to me. But not a big deal. If the rods are also that size, and you are dead set on full grooved bearings, I'd runt he HV oil pump and the MP HD oil pump drive with it. Just my opinion there. Some guys don't seem to care but I'd want more oil delivery potential if you're beyond .0025 on all of them.