BB is fine - fitted the one in there last month and old one came easily (not sure where the rust you refer to is)Are there any issues with the bottom bracket ? looks a bit rusty , have you tried to remove it or know if it's siezed. What about the hub spacing , has the frame been cold set to accommodate 8 speed as I'm certain it would have had 126 / 100 spacing for 7 speed originally . ThanksBB is