JohnC,  Not sure right at the moment, have the equations in a book at home.  Unless your question was rhetorical, in which case I won't bother. 
  
If I'm interpretting you correctly, you're essentially saying why worry about it?  I would say most people could ask the same question of knife-edging at all.  My thoughts were simply if you are going to do it, why not do it properly?  
  
I was also wondering, and this would seem a no brainer but I just want to check, any weight that you take out of the counterweight really should be taken out of the rod/piston assembly on the other side yes?  If so, then you really should get the rod/pistons before you give the crank to the machinist and tell them how much to take out. 
  
Although, with the LD crank, I have heard that the LD rods it was designed to run with are less than petite.  Did you measure the difference between those rods/pistons and what you were running? 
  
Also, what balancer did the ROD run? 
  
Thanks, 
  
Dave 
  
PS. SOrry for the hijack.