I just put clipless pedals on my Raleigh m80 and did a few small bunny hops. Next thing I know a clicking is coming from the front wheel. The hub was seriously binding. I adjusted the hub, and it spins somewhat freely. Then I noticed that the ends of the axles are bent. you can see the ends of the axles and the locknuts moving up and down when you spin the axle. The skewer does not spin freely either. Needless to say the skewer is slightly bent as well. Did I bend the axle, or is the entire hub damaged? Can the axle inside the hub be replaced?
Probably just bent the axle. Maybe the QR wasn't tight enough? The axle can be easily replaced on most mid-range cup/cone hubs. High-end stuff cup/cone (Dura Ace) and sealed bearing units may not be as easy to find, but parts should be available somewhere.