Ok if I am way out of line please tell me as I am very green, but why are you trying to do this between
centers why can't you chuck one end in a 3 jaw as close to the cam as possible then turn and do the other half? Seems to me that would be a much more stable.
Overhanging the tool 1/2 of its length is probably not beneficial, but what do I know?
What does HSS sound like in the work - squeaking and howling?
Perhaps try a dead center with the tail stock quill retracted as far as possible? How much material do you have left to take off? Is it a small enough amount to use a dremel rigged up in the toolpost?
The casting they supplied you looks very rough, if the file won't cut it probably was chilled and hardened. I built a #1 years ago and the crank machined nicely without the bridge between the mains.