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Is it a sealed unit? Then yes, it's a dud.
If the central shield and cups are loose, then you should be able to remove the bearing from the spindle and refit.
Tightening the cups won't work as aluminium is softer than steel.
Of course, riding around with it like that may have fucked it anyway.
Serves you right for buying Miche (pronounced "mee-kay", as in "mouse") instead of a Shimano UN55.
I installed a new Miche Primato square taper BB on an old frame and it's producing a click with every crank revolution, only under moderate/high load. I've checked through the more likely culprits on this list.
Removing the BB I noticed the NDS bearing is a fraction out of alignment with the spindle. I was hopeful that with sufficient torque the BB cup would help straighten it up (wishful thinking). Have I just got a dud BB?