No pic as I don't think it would help.
My 1974 Motobecane Grand Record has its apparently original wheelset, Normandy 'Competition' hubs (ie Campy high-flange knockoffs) with Weinmann 700C rims. No obvious damage, and the alloy responded very well to cleaning and polish...they look great in fact.
The hubs are peculiar in that the front has no dust covers at all, the rear only on the drive side. So I cleaned everything out with gun swabs (think very long, one-ended Qtips with a wooden shaft), and all seemed good, except on the one side I was able to open up, the rear drive side. There, the race actually was loose, and would rotate around while I was trying to rub out the last bits of old grease. (This was particularly a tougher job because the 'grease' included something grey and very adhesive, which resisted every solvent I threw at it. Don't know what was up with that.) Anyway, I was able to get it clean but the rotating race bothered me. Surely it was not supposed to be that way. It would not come out, at least. There was no surface I could get to to apply JBWeld, but I was able to get some Loctite around the outside edge, then I spun it around a time or two, left it awhile, and finally it seemed to be stuck in place. Fresh grease and bearings, and the hub seemed to spin smooth and tight.
However. On the bike it makes some pretty strange noises, esp as it is gradually slowing to a stop. I wonder if the loctite bond has broken so that the race shifts every now and then.
I think I'm going to look for a replacement, and while I'm at it try to find a complete set with Campy high-flange hubs. (I have a set of low-flange with great new Mavic rims but it's a 126mm set.) But in the meantime...anyone seen (or heard) this anomaly?