Ok, I'm spoiled by cartridge this and cartridge that.

How much preload should an old style, loose balls, cups and lock ring BB get? Should there be any play (up down) on the spindle? What is the best indicator that the cups are tight enough?
If this did not have such a nicely ground spindle (70's sugino) I would chuck it for a maintenance free UN-72.

Crunching is too tight ... right???