Edwin,
If it obeys the uncertainty principle, then there is only a single bit of "information" present, regardless of how many data bits are in the measurements. The meaning of the uncertainty principle, is that regardless of how much data one collects, that data is all so highly correlated from one measurement to the next, that there is only a single bit of information buried in all the redundant data. If this is not true, then the data does not obey the uncertainty principle, and is not of interest quantum mechanically.
Think of it in terms of a time-bandwidth product, which is what the uncertainty principle is:
The limit in time means there is a limited time duration during which the signal is present and able to be measured. The limited bandwidth means that the "signal" has been lowpass filtered, which introduces correlations between any closely spaced measurements. The uncertainty principle says there is an inverse relation between the time-period and the correlation period, such that only a single independent measurement can be made; all other measurements are non-independent and entirely correlated with the first measurement, such that they are devoid of any additional "information". Furthermore, that single measurement, is only accurate to 1 single bit. This latter fact can be seen by setting the signal-to-noise ratio in Shannon's Capacity, equal to 1, in which case the expression for the capacity just becomes equal to the uncertainty principle; the uncertainty principle is simply the special, limiting case, in which the information carrying capacity of the "message", consists of a single bit of information.
Also, keep in mind that most of the experimental tests of Bell's theorem, do not even employ particles with spin, or use magnetic fields. They are performed by measuring the polarization of photons.
Rob McEachern