Like me, with turning this piece of junk:
The only things left are the frameset, parts of headset & stem. You just need to approach them like they truly are - sturdy & heavy pieces of slav technology.
The problem with your headset might have been caused by a change in the size of the headtube from imperial standart to metric.
Also about the BB axles - i did a lot of experiments with putting the axles in the wrong direction, and, yeah it works. Remeber, the most important part is the chain line - everything else is just cosmetics
That's nice! What size wheels? What sized tires?