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I've had to replace 3 broken axles for friends with this kind of freewheel (one 7, two 8 if my memory serves me). None of them is a lardy arse. Common feature was that they all rode down a hill with sleeping policemen and some of the roads are pretty shoddy around here (Devon). I was really surprised first time, now it feels commonplace.
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I'm not clear on the problem you're trying to solve - it would help to see a picture. Are you looking for a stem with a clamp height of less than 25mm? I don't know if I've ever seen one. Or are you suggesting trying to get a quill stem to use with a non-threaded fork? Either way, it doesn't look promising...
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Zebra, check out Sheldon's ideas on alternative cable routing to get around the spacing issues - http://sheldonbrown.com/derailer-adjustment.html#alternate. I've used it before and it does work with a bit of experimentation.
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I use a PCS-9 and that's brilliant. Less than £80 if you shop around. It's foldable which is crucial for me when I pack up my tools and stand into my bike trailer and head to the market in Totnes for a bit of DoctorBike action on Saturdays. It's heavy duty enough for all jobs, including pedal removal, bb removal, etc.
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That M Wave looks just like the Minoura portable (foldable) stand I have. I used it for both building and straightening. It didn't do a bad job really given the price. But having used a really good one now for a while, I couldn't go back to it. I think I'd do shoddy work now with it out of frustration with its lack of adjustability, its flimsiness and its poor centring (ie unreliable).
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Drive side is reverse thread (clockwise to undo), non-drive side is normal thread (anticlockwise to undo). It's worth taking a lot of care removing the BB. The tool can easily slip out of the splines and start stripping them - and it gets progressively harder to engage them and apply rotational force. Sometimes a long axle bolt can be inserted through the tool and into the axle to keep the tool in place (kinda depends on the width of the tool and its hole, so no guarantees that'll work).
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This looks pretty cool (and cheap) given the functionality it provides - http://www.chc-3.com/pub/wheel_stand.htm. I'd put the dial gauge on a shorter arm to avoid flex.
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I've used forks, forks with zipties, crappy stands, reasonably quality portable stand (an older Minoura) and I now have a rather gorgeous Cyclus stand.
.I'd endorse the view that forks are better than a shitty stand. I'd add that the Minoura is a lot better than I'd expected, but nothing compares to a heavy, solid, well-engineered and well-designed truing stand attached to a heavy base. Turns wheelbuilding truing into a religious experience (without the dogma, economic exploitation or mass killings).
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Buggered threads on the fork steerer shouldn't affect the stem. The stem only interacts with the inside (unthreaded) part of the steerer.
Might be a daft suggestion, but what about trying to attack the stuck stem from the other end. The forks will have a hole in the crown that matches up where it meets the steerer. You could stick something in that hold and get your big bommie knocker out and hit the mofo in the correct direction - ie upwards. Just be careful not to damage the fork legs.
I think it's a lovely frame, 'specially with that sexy chrome rear end, and it's definitely worth turning into a useable bike. If I was in London, I'd take it off your hands and give it a good thrashing.
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@Jamiejay - WD40 is mainly a solvent - it removes all the oil and then deposits a very thin layer. It's not good for a chain, particularly the insides. Sheldon would not approve.
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Before you cut the spoke, just make sure it'll be easy to thread in a new spoke. If it's a back wheel, you may have to remove the freewheel/cassette in order to remove the old spoke and thread the new. If that is the case, it's worth spending more time to free up the spoke/nipple, enabling you to reuse them both.
Don't forget to keep both sections of the spoke if you cut it so you can measure it and reorder a new one (mebbe safer to take the two bits to the bike shop so they can do the measuring).
Instead of using the pliers to cut the spoke, you could use them to hold the spoke and prevent it from turning while you loosen the spoke nipple.
Best if you have a spoke key that grips four sides of the nipple rather than just three - it's less likely to round off the nipple flats.
Might be worth tapping the spoke with eg a screwdriver just where it enters the nipple - that'll help free it up.
Good luck.

. I've seen them on ebay for way less than £10 inc postage. May get one myself...
The axle is long on one side because it needs to provide clearance for the chainrings (otherwise they'd scrape the chainstay).