My guess is the crank will be trashed. There has been some question about turning the factory crank undersized. There is a TSB on it. Some still do it with good results.

If your ran out of oil, I would send it off the the scrap pile and find a better crank to rebuild with.

87 Turbo Intercooled Raider, roller cam, torsen rear diff, LSD front diff, lockup auto with modified converter, V6 brakes, low transfer case gears...