Test ride report. You guys were right about the chain wear being the problem.

I put the bike in the big chain ring and the big rear cog. Well it shifted back down to the middle ring. So I put the bike in the big ring and the 2nd largest rear cog and the chain stayed on the big ring. So I consider the problem solved because all I wanted to be able to do was to run the big ring and the 4th largest cog on the rear and this works perfectly.

Now for the fine tuning. I am riding along and looking down at my large chain ring. I think that I see the large ring moving from side to side when I look at the cage of the deraileur. Now I had called myself checking to see if this ring was running true. As some one mentioned there is an indexing pin on the large ring which points to the crank arm. Well the crank arm is in the way when you are trying to measure the run out on the large ring so being lazy I didn't check directly behind the crank arm. It looks like the chain ring is bent away from the crank arm by maybe 1/16". My guess is that the chain fell off the outside of the large ring and jammed between the crank arm and the large ring bending the large ring away from the crank arm.

So I would like some advise on how to straighten the ring. I want to be lazy and just grab it and the crank with some vice grips and squeeze it back into alignment. But before I do this I would like your opinions on if this will work without breaking the spider arms off the crank.

Thanks to all of you guys for your patience with me and for helping me sort out what was going on.