[QUOTE=JohnDThompson; The bikecult hack seems to lack any means of locating the bearings, so the spindle would be free to slide sideways inside the BB.[/QUOTE]
I'm guessing that there's a "tight enough" interference fit between the bearing ID and the spindle, but time and hard use might prove that wrong. It's been so long since I had an old Phil BB apart but I almost recall that the really old ones had only a simple sleeve to trap the OD of the bearings (no inner shoulder or lip) and this (I assume new Phil) SS spindle clearly has no machined shoulder on it. I wonder if you could get away with some Loctite green on the spindle/ID if it was nearly tight enough...these are questions for the guy who's been there/done that. At least the original Viscount BB shell has an inner lip for the bearing OD.