Joe,
Heres the deal on your front brake. Both the pivot and the caliper are the problem. First, remove the whole mess from the fork. Then drive the pivot pin out and clean the corrosion off of it and out of its hole. Grease it up and put it back together. I usually used white lithium grease cause I had lots. I don't think the kind of grease is critical. The most likely scenario with your caliper is a build up of gunk behind the o-ring in the caliper body. So, with the caliper apart and the brake pads out, but still connected to the master cylinder pump the piston out of the caliper. It is messy but it works. Next take out the o-ring. It is supposed to be square and so is the groove it rides in. The gunk is causing the o-ring to be too tight and dragging on the piston not allowing it to retract. I scrape the groove clean with a pick and replace o-ring if it is the least bit suspect. I generally run without the weird adjuster screw and spring. If everything is working the caliper just floats where it is supposed to be. All in all it is just routine maintainance on these caliper systems.
Ken
AHRMA 412
Vintage racing - old guys on old bikes
Heres the deal on your front brake. Both the pivot and the caliper are the problem. First, remove the whole mess from the fork. Then drive the pivot pin out and clean the corrosion off of it and out of its hole. Grease it up and put it back together. I usually used white lithium grease cause I had lots. I don't think the kind of grease is critical. The most likely scenario with your caliper is a build up of gunk behind the o-ring in the caliper body. So, with the caliper apart and the brake pads out, but still connected to the master cylinder pump the piston out of the caliper. It is messy but it works. Next take out the o-ring. It is supposed to be square and so is the groove it rides in. The gunk is causing the o-ring to be too tight and dragging on the piston not allowing it to retract. I scrape the groove clean with a pick and replace o-ring if it is the least bit suspect. I generally run without the weird adjuster screw and spring. If everything is working the caliper just floats where it is supposed to be. All in all it is just routine maintainance on these caliper systems.
Ken
AHRMA 412
Vintage racing - old guys on old bikes