I suppose I should have mentioned at the beginning of this F4 thread that this bike was in need of a service, thorough cleaning and detail when I purchased it.
We all have our tried and trued methods on anything old and neglected. My simple methods have been used on all the 60’s items I’ve owned, or still own (muscle cars, wooden boats, Schwinn bicycles).
With a bicycle it’s a complete disassembly, wash with Dawn soap, towel off and gently dry with compressed air.
Polish “Only the Paint” with a cleaner such as TR3 with a watered moisten pad being gentle. Just enough to take off decades of oxidation.
NEVER EVER use any cleaner waxes on Screens, Decals or pinstripes. Do the final wax with 100% carnauba, even on the Screens, Decals, etc.
Chrome - wheels, fenders, bars, etc. I use Bronze Wool with a lubricant such as WD-40. When I was a young boy watching/helping an old man restore a classic 60’s Riva boat he told me never to use steel on steel, as in steel wool. The softer Bronze wool will not rust or scratch an old chrome surface.
Lubricate as shown in the Schwinn Reporter. Adjust brakes, derailleurs, seat and bars. Test ride.
My choice of the lubricant is the remarkable Marvel Mystery Oil.
I drop some of this light oil inside all the casings and blow out the other side with compressed air to give a thorough light lube inside.Then wipe the cables with the MMO.
All the pivot points and linkage throughout the bike get this same light lube.
The only item I did not take apart was the PITA Atom Freewheel.
It looks to have been touched by someone over the years as I see a couple small nicks at the two notches.
I completely cleaned the grease and grime with a role of paper towels, popsicle sticks and Q-tips, plus the spoke protector as good as I can.
The freewheel seems to be very smooth and quiet in operation, so I did not want to fight that!
One thing I notice about the original poster's stem is that it appears to be for the later fork and bearing race diameter. The smaller size is creating a bit of a gap around the crown nut. The same stem that is pictured on the Campus Green bike, with the speedometer, is a newer bike with the newer, smaller fork diameter.
I had already noticed that.
The early stems, such as the ‘64 would be 7/8’’ diameter, whereas this stem that’s on my bike is a 13/16’’ which is for the ‘66 and newer models.
I happen to like this stem, so I’ll keep it on the bike.