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I am assuming that the main journals are the same nominal diameter as the big end journals.
There are 2 components. 1 is side to side which is the movement as the rod slides along the crank in the limited space it has to do so, this is probably the biggest element which I see as "normal", the other is a rocking movement which I interpret as a clearance between the shells and the journal.As a test I removed the conrod, re-tightened the 2 bolts, then slid it on to the main journals at either end of the crank, the amount of "waggle" felt about the same. I expected it to feel tight I suppose but it slid on easily. I am assuming that the main journals are the same nominal diameter as the big end journals.
I would build the bike up to a rolling chassis then get someone to help lift the engine in. As you say, it's really easy to lay the engine on its side and refit frame over it but then you have the problem of fitting the forks, swing arm, wheels etc. This is easy to do if you have a bike ramp to hang the front end off so you can fit the forks but never tried it without a ramp. Great photos, its looking very good.
Plan to fit the engine at the weekend with some help. Meanwhile I have started the coil fix as a) one coil already had epoxy resin on one end I think in an attempt to keep water out, the inner wire is corroded slightly and b) because the HT leads are so stiff. Needed a new soldering iron as mine is ancient, also I wanted one that had temperature control, didn't spend much however it has worked well. As for the manufacturer, I've attached a picture, I am now the proud owner of a ....