A Sport SS? Is there a tubing decal anywhere? I can't recall if this is a Chromly or Hiten frame. $60 shipped sounds reasonable since shipping was likely $30 or so.

The Sport SS model was the first model above the recreational bikes. It was a decent machine but I am not sure I would go wild with custom paint.

As for the BB cups... Having the special tools is a must if you don't want to destroy anything. If you are planning to reuse that BB you can leave the fixed cup (drive side) in and just mask it. If you don't intended to reuse the BB take it to a shop and have them remove it.

If yuo have the lockring off you might be able to get the adjustable (non drive side) off with a good pair of channel locks, if you are not reusing it.

This thread is full of useful information. http://www.sheldonbrown.com/tooltips/bbcups.html

This looks like a good method, if you have the correct tool. Just remember ona English BB the Fixed cup turns clockwise (to the right) to loosen and the adjustable cup turns counterclockwise (to the left)