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So before reading this I actually managed to get the cranks off. Amazing what a soak with WD40 will do! The BB seems ok, it's still running smooth and I don't think I've damaged it either...I've measured the spindle length with a ruler and two credit cards as markers (no verniers yet unfortunately) and it seems to be 120mm...
However, the cranks are now not usable...I do have this pair of cranks I picked up for a fiver a while back with the aim of replacing the ones on my other Peugeot. I wonder if they are any good for this? Its a 52/42 arrangement and appears to be able to be disassembled (not the bolts on the spider...Are the spiders a standard size? I either have to locate a new rear cog, or a new ring to make them compatible...
The rear drop outs are spaced 120mm with 17mm from inner of dropout to center or rear cog...so that means a chainline of 60-17=43mm? Does that sound correct?
That brake was the front, it has less of a drop than the rear.
@MrE Thanks for the info on the BSA Sale; I thought it must have been something like that. They original steel rims are off and these are some aluminium ones I've purchased from this site. I've whipped the brake pads off as well, and have some regular ones on order.
dirac-
That's a result, but when I wrote that the BB will of no use to you, I meant that it will be the wrong size rather than being unserviceable: 120mm will be much too wide/long to get a 42mm chainline and different cranks require different width/length BB.
Bearing in mind measurement error, 43mm for the rear chainline sounds about right (it will actually be 42mm).
You can space the rear sprocket a little (eg 1mm), but it's better to tune the front to the rear: if you space the rear sprocket too much, then you won't have enough thread engagement for either the sprocket or the lockring.
The cranks will likely be re-branded Specialities TA or Stronglight which often had a non-standard BCD spider: measure from the centre of one chainring bolt to another.
Rings to suit aren't uncommon, but it may well be cheaper to get some Shimano pattern cranks (130mm BCD) than source a suitable ring.
Scilly.Suffolk
Have you measured the chainline?
If they do match, then I wouldn't bother taking the cranks off: apart from the faff, this is supposed to be a cheap build, Right? ;)
Even with the cranks on the bike, it should be possible to get at the inner ring with a Dremel.
Is that the rear brake? Doesn't look to have much drop.