Given the amount of PB Blaster you sprayed in there to make it work again (I know, done it before too) there's a good chance it got into your hub bearings. This would be a good time to overhaul your hubs, especially if this hasn't been done since 1998!
Instructions:
http://www.sheldonbrown.com/tooltips/hubs.html and
http://www.sheldonbrown.com/cone-adjustment.html