Originally Posted by
Ross200
Properly adjusting a threaded headset is a some level an acquired skill but if the cups and the crown race are not parallel, it is impossible to get adequate adjustment and keep it. The uneven wear on the bearing tracks could indicate the frame/fork would benefit greatly from facing.
I'm inclined to believe that. The head tube is showing signs of rust at the top race (there's rust staining on the paint immediately under) which I'll address when the top race and bottom cup are knocked out.
I've also determined that the nylon seal on the old locknut plus the shape of the parts and seals makes this 80% of a Tange Seiki passage headset.