If you have 2.109" + or - measured with 2 good measuring tools, that agree with each other, then it sounds like the crank was turned wrong. .020" undersized bearings will still be an interference fit by at least .003" if this is true.
Check the mic against standards. Dropped mics usually read high, not low. But since your tools agree, I doubt this is the issue. BTW, I'd put the piston in with the .020" under bearings with no rings on it to eliminate the ring drag and leave only the bearing drag. it ought to spin as free as the crank that way.
Where did this crank come from?