Update! Good news and bad news.

Good news:After several hours of bathing in PB Blaster, the bb finally came apart

Bad news: the entire bb was filled with gunk and grit. the one of the bearing cages was apparently broken off during use. I got new loose ball bearings to put in there, but the spindle appears to be damaged. Hopefully it shouldn't be too noticeable, right?

Here's a picture of damaged side of the spindle:
https://docs.google.com/file/d/0B012...it?usp=sharing