Wow, been tough finding the time to work on this. So here's what I've found...
First, the tires appear to be the culprit. The rear tire practically fell off the rim, and the side wall was really "flimsy" to try to put a term on it. I'm replacing those with a new set of Gatorbacks from continental.
Second, I pulled apart the hubs and the freewheel and all looks good there. The freewheel hub was relatively clean, but I did clean and lightly lub those parts..
I examined the frame and found no defects, except a spot where the carbon was worn down to the fiber behind the small crank ring where the chain fell behind and gouged the chain stay. There are no cracks associated, or anywhere else for that matter.
I'm putting it back together tonight when I get home from work, then it's out tomorrow to test it out. Check out the picture of the gouge, and let me know what you think. I will report back once I get to test this out, and again thanks everyone for our help and advice.
Ken
P.s. looks like I can't upload a picture from my iPad, so I'll upload that photo when I get home.
Last edited by kenmcchord; 07-18-12 at 07:24 PM.
Reason: Can't upload the picture on my ipad