Hello - I am new to this forum and I was recently given the Schwinn Paramount very similiar to what Kanenas has. I am having difficulty removing the freewheel. It is the same as Scooper's showing in the picture with the removal tool (Regina). I am not sure if I should turn it CW or CCW to get it out, I know it sounds silly but it is so tight that I am afraid I may damage the components. Also I have taken out the bottom bracket to inspect the bearings and they seem to be in pretty good condition. Deos anybody has any suggessions/advise on reassmbling it back as I have heard it can be very difficult to get it right the first time.