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Be careful that none on the rear bearing seeps out the ends onto the thrust faces. Will throw off the crank end play. Cover the thrust faces with scotch or other tape if there is room. Watch the end play and measure as you proceed.
Edit: Friend says I am too negative. I do like timesaver, just watch the crank end play. Should not be a problem unless you do a lot of lapping with coarse or medium grade, but again, pay attention to end play.