Originally Posted by jimmuller

Back to the OP's issues... How much wheel wobble are you talking about? A millimeter? a centimeter? Big difference. So much that the brake pads have to be so far from the rim that the brake levers run out of travel?

Noisy drivetrain? Squeaks or grinding? Rusty chain or sticking derailleur pulleys or grundged up BB? And you really should clean and lube the wheel bearings too. These aren't difficult tasks most of the time unless you can't get threads to come loose.

Be aware that the left side pedal has left-hand threads. The right side BB bearing cup should not be removed unless it is so pitted that you ahve to replace it. It has left-hand threads (at least on most bike, I don't know what Schwinn was doing then).