My company (Deep Freeze Cryogenics) has cryoed quite a few 3.8 cranks for local Turbo Regal guys lately... The problem with nodular iron crankshafts is two-fold: most of them are not tempered (heat treated) but are instead "work hardened" by the machining process... That's not really a problem with hardness per se but anytime you cast, forge, machine, or weld any material you are introducing stresses... These stresses cause stress risers and stress fracturing (the number one cause of failure in nodular iron cranks). Heat treatment relieves some of these residual stresses but since they aren't heat treated in the conventional manner therefore all of the stresses remain... The cryo process relieves 100% of these stresses as well as providing a "through hardening" of the journals to alleviate the adhesive wear associated with the journals/bearings... Obviously they still aren't as strong as a 4340 piece but the increase in durability is substantially increased and I would equate them roughly with a 5140 forged unit...
-Jeb