Cottered cranks are pure, 100% crap. Man I love my old Raleigh LTD-3, but I have no confidence in those cranks. Even after installing them filed, with hammer taps (not a press -- no way I'd pay for a press for those pieces of ****) after about 3 rides the cranks are either not at 180 degrees, or have a slight amount of play.

Yeah - they worked for who know how long before something else was designed, but my vote would be to spring for the threadless or Phil stuff if you really love the bike.

I liked the idea of cottered cranks, but in practice wanted to tie the entire bike to last year's Christmas tree and sink it in the lake for crappie beds.