Now this bike really wasn't in too bad of shape, but it is 46 years old, so I wasn't sure what to expect
Dried grease, or a lack thereof, and alot of bare metal, but after a good cleaning both the ball bearings and races looked to be in fine shape. Cleaned, repacked them and reassembled, but ordered a box of new 4mm bearings for the next regrease. The manual says these need a repack every 10K miles and come that time I'll re-inspect and probably just replace them all. Really makes you appreciate the fact that BMW used timken roller bearings.
Speaking of which, I planned on repacking those next winter, this PM got me wondering what state I'll find those in