Yeah, the pin-spanner is really only to make adjustments on the adjustable-cup. Once you loosen the lock-ring, the adjustable cup should be easy to spin.
Here's a tip on adjusting it on the installation, set the adjustment slightly tight so that the bearings feel gritty (about 5-10 degrees more than perfectly-smooth). Then hold the adjustable cup in that position while you tighten the lock-ring. The lock-ring will actually push the cup outwards slightly and end up giving you perfectly smooth running BB.