About a year ago, I had my beloved Yeti stolen and I was able to replace it with a nearly NOS 1990 Fuji Ace. (thread here if interested). I have upgraded a few bits on the Fuji over the last year:
Miche Performance brakes, Jagwire cables, Tektro Levers to improve stopping (very nice setup by the way!).
New Wheels: 105 hubs laced to Open Sports, 32 spokes.

Recently, the no-name BB came loose and felt really gritty. First I tried adjusting/tightening it to where the BB spindle stopped wiggling and then tried giving it a spin. It barely moved! I pulled it apart and found that the grease had turned to a tar-like substance and was very sticky. Since it was a generic no-name BB, I just ordered a brand new Shimano UN55 and thought I'd be done with it.

I couldn't bear to just toss the old BB so after scraping off as much of the bad grease as I could, I dropped the whole thing into a solution of Simple Green and let it sit overnight. Then I went to work with a toothbrush. When I was done it looked like new: almost no scoring on the races or bearing surfaces, the balls were smooth and round. So I put it all back together and she spins like new. Smooth!

Now what am I going to do with that new-fangled BB when it arrives?