Change the rod bearings and cross your fingers!

Rods and mains and a new std oil pump will bring the oil pressure up.

Hand polish the affected journal as long as it's not totally gone. Have used small high density Foam plugs to keep the crap out of the crank oil gallies when polishing the crank in the vehicle. Remember to take them out when finished with the polishing.

WD-40 and some 240 wet dry strips work pretty good, can follup with some crocus cloth if you want.

Before:
Can see my high density foam plug in the crank here.
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After :
Most of the time it is bearing material that has transferred to the crankshaft making it look worse than it is. A light polish will remove that bearing material and clean it up nice again.

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