As mentioned above, Facing the BB shell might be the problem, and that's definitely the symptom you would get. I just put a CK BB in a 2001 Spectrum frame, but didn't have the shell faced as I know Merlin meticulously faces all the BB shells of the Ti frames they weld. What I *did* do though, was take a single-edged Razor blade and scrape off any of the Thick Imron paint that was on the external face of the BB shell. I did similarly with an emery board on my 2001 GF Hoo Koo E Koo that I converted to Shimano outboard bearing. I even took that frame to one of the best bike shops in the Boston area to pay to have the BB shell faced and they wouldn't take my money. They told me Gary Fisher frames have their BB shells faced meticulously at the factory and the frame didn't need it. I was kind of skeptical, because I would think 2001 was right in the heart of the cartridge bottom bracket era where facing doesn't matter a bit, but it seemed to go together well without it.

Also as mentioned above, CK BBs are only for Shimano cranks and there is both a Shimano Road Specific and Shimano MTB Specific BB, you need to use the right one for the Crankset you choose. For a the 68mm Shell on my Spectrum and an Ultegra SL Compact crank, I obtained the best chainline with one spacer on the non-drive side.