He caved

With all the parts and tools finally in, it was time to start assembly on the rear swing arm.

Using a dial indicator and a tool that resembles the rear spindle, the correct spacer was determined so these bearing can be pressed onto the spindle while knowing for certain that the final end play is correct.

Somehow, this one ended up at the desired 2 thousandth of an inch end play on the first spacer. It's so rare to get that lucky.

The rear brake calipers were painted, and this time a spray gun was used.

Though the sponge method gave what is probably a more correct finish, it was so blotchy that this guy caved and couldn't do it on the rears too.

The finish is much better. The correct red assembly marks were added as well using photos of the originals.