I'm not sure if I want to restore this bike as it is in -fairly- good shape right now. I may clean up the paint and there is some minor rust on the chain stay where they meet the bb that could use some attention. I was debating wether or not to restore because I like the way it looks and I'm not afraid to leave it locked up around town.
The crank arms are secure on the spindle, so it is the bb, I'm sure of that. I have a donor (parts) bike that is sitting around taking up space in my garage that has a perfectly usable crankset on it that is cotterless, but I hesitate because I like the look of the cottered cranks on this bike(never mind the fact that the cranks arms are no longer chrome, but kinda rust discoloured).
This bike is just a one time very nice ten speed that has fallen on hard times. I rescued it from it's misery for the price of $15 Canadian. For all it's uglyness, it goes like hell. I've had it up 50kms per hour on a downhill and it was solid as a rock. I bought it with the intention of doing a ss-fixed gear project but have since changed my mind and left it as it was. The fixed project will come later on with another bike.
Onyways, thanks for the reply, I've got some thinking to do.