For an exercise bike, you'd probably want to design for the average torque, not the absolute maximum.
On an actual bicycle, the maximum torque in most cases will be a heavy person standing on just one pedal. Maybe you need to make the crank strong enough for that, but no reason to assume that someone's going to pedal like that for half an hour.
You might try some research on the Gossamer Albatross (or Condor or whatever it was)- plane that flew the English Channel. Seems like I've read a power output for that, which used a first-class in-shape cyclist doing his utmost. Your normal overweight person sure isn't going to top whatever he put out on that plane.