The most important thing to consider is your frame, not your crankset. You can make almost any crankset work for a singlespeed.
Your frame needs to have horizontal dropouts so that you can tension the chain. Or you can use a chain tensioner, which is essentially the spring part of a rear derailleur. Looks like the San Jose has horizontal drops, so you're fine.
As for the crank, all you really need to worry about is maintaining chainline, which means that your rear and front cogs are lined up. You can affect this on the front by moving your one chainring into the large/small position on the crank, or using washers to move your chainring slightly over. EDIT: Now the overall position of the crank will be affected by the length of the bottom bracket spindle, as this will also affect the chainline. In practice, I wouldn't worry about this too much, again, because you can slightly adjust the position of the chainring after the fact.
In the rear, you can shift your hub axle slightly if you really need to, but you should focus on getting the front right before you resort to this. Note that this only applies to freewheel style hubs. If you are going to run cassette hubs for a single speed, then you can sometimes run spacers to get the rear cog exactly where you want it. There are some less other common configurations that I won't deal with here as well.
The other thing to keep in mind is that chains are meant to bend somewhat, as seen in normal use on a geared bike, and so a small offset angle is not going to hurt you.
