This is an interesting idea and I think I'll give it a shot.

@FTW: I haven't tried to check the holes with a bolt or rod...that's a real possibility I hadnt considered - that it may be slippage due to worn opening...I just automatically presumed it was the spindle, but this makes more sense. I'll check this tonight and post the result tomorrow. I may stick another crank on to see if the problem persists.

@GB: definitely in tightly enough...in fact I managed to get one in so far that I had to mushroom the sucker to get it out after still experiencing the same issue.

Thanks for the suggestions everyone. This bike is really just something I'm playing around with as a tweed rider for this spring. It'll work out or it won't...either way it will keep me busy over the holiday break.