Yeah nothing was really tight just the Drive side gave a little issue. I took the BB to the LBS, he took one look at it in its dirty state and said yeah it just needs cleaned and regreased. So that was 2 dollars hopefully well spent. The Races looked fantastic and smooth no gouges on it at all. I took pictures of it after I had just taken it out. But I did not think to take a picture with it cleaned up. I still sounds a little grindy but nowhere near as bad. So if this can last until I get my friends Giant, then just use this bike as a learning tool. I will be happy. I am concerned about my cranks specifically the non drive side. It looks as though someone hit the crank with a hammer and gouged out the square tapered hole a bit. I'll let the pictures do the talking. When I told the LBS mech that, he said it wouldn't tighten down correctly, he used a very specific word to describe the type of damage I was describing. I can't remember it though.

Grungy Bottom Bracket:
http://img4.imageshack.us/img4/1134/img0054wd.jpg
http://img404.imageshack.us/img404/2050/img0055xa.jpg

Rusty inside:
http://img851.imageshack.us/img851/8513/img0056psy.jpg
http://img717.imageshack.us/img717/157/img0057wtx.jpg

Funky Crank damage:
http://img851.imageshack.us/img851/9038/img0058mv.jpg
http://img850.imageshack.us/img850/9148/img0060wr.jpg

Thanks again guys.