Completed!
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Well .... sort of. The difference between the relative heights of the saddle and handlebar has convinced me that some sort of riser extension tube is in this bike's near future. I'll probably swap the first stem I was using back into the mix, too, as I would like the bars to be both higher and a bit further forward than they will be with this stem and a riser unit.
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Along the way, I may get the opportunity to cut down on the current logo stew effect I have going on here. The bike has enough problems without the severe identity crisis occurring above the headtube.
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Here is the full drivetrain, complete with the nifty Sugino dustcaps in place. The stock Shimano LP-25 BB was one of the ones with the "adjustable" non-drive side threads molded into the cartridge shell itself and a reverse-threaded ring on the drive side. It had rusted pretty well into place and after much application of PB blaster I was still having difficulty getting it out. The BB removal tool I had borrowed kept wanting to slip out when under pressure. I wound up securing it in engagement with the splines by threading the end of a quill stem expander bolt through the tool and into the crank fixing bolt on the BB spindle, then using the bottom of the stem expander wedge to lock it securely in place. Even using the long Park chainwhip's wrench end to turn it required the use of a big ol' hammer to start things moving. The buttery-smooth UN-72 pictured above made a dramatic improvement.
Still to come - truing the rims, repacking hubs and pedals, and resolving the handlebar height issues.