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Resembling a well-worn IBM 029 keypunch ribbon
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As good a use for dead cells as I can think of
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The ratchet pawls hide under a riveted cover
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It’s ready for installation
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That much offset may be acceptable for some (upright?) bikes and some riders
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Those are the original 165 mm Shimano cranks
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Gooey silicone rubber molded atop a PVC tube
The Smell of Molten Projects in the Morning 