Of course they can make a very precise hole. It all depends on the nut on the handle! You can screw up a perfectly good hole with a hone also. You can ream it close, and then lap to a final clearance and fit. For a Fox, being just a tad sloppy is sometimes desirable for some people. I would measure the bushing and then the crank, and see which is closer to the OEM spec, and then work the other for the fit you want. Then you have a chance of these parts fitting something else if need be, or other parts fitting this engine. It may be "just a Fox, but even after all these years, they aren't making them any more.
Type at you later,
Dan McEntee