So I bought some replacement plastic adjuster pieces to replace the old melted ones, and also got some new stainless steel mounting bolts with positioning system (as opposed to the standard black coated ones).
Plastic pieces: http://www.universalcycles.com/shopp...10&category=20
SS Mounting bolts/system: http://www.universalcycles.com/shopp...30&category=20
I've never had a BB7 caliper fully disassembled. So tonight I took the whole thing apart to see (1) exactly how it works and (2) if anything could use maintenance.
Inside the mechanisms are pretty simple. There are 3 ball bearings that ride up/down tapered ramps to push the piston in/out, a spring to load of the arm, etc.
Inside everything was caked in brake dust, so I cleaned everything (including the bearings and ramps and lubed them lightly with pro-link oil. I did not use grease, since I wouldn't want it getting out and on to the pads/rotor, and because there was not grease on there before.
Also, there is a nut behind the outboard pad adjustment knob that holds the arm onto the piston. Mine was not loose, but there was not very much torque on it. I tightened it a bit more than it was.
Afterward, the arm actuation seemed smoother with the clean bearings/surfaces and with less lateral play.
Just something to think about doing every year or so.