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I’ve looked all over the internet for info but couldn’t find any.  I wanted to know how one would go about disassembling Speedplay X5 pedals and if one could swap out the CrMo spindles for the stainless ones.  I couldn’t find anything so I experimented.
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It turns that the X5 design is quite different from the X2 and X1’s.  There is an internal sleeve/bearing holder underneath the lollipop and bowtie cover.  In the case of the X5 the two bowtie screws actually hold the lollipop pieces together, that explains why they use a torx interface instead of the regular Allen interface.  Undo these two screws and the whole cover comes apart as shown above.
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Next, there is a plastic grease cap on the end of the bearing holder.  Grab and twist this cap off to reveal the nut that holds the whole thing together.  By this point I could see that the X5 and X2 spindles are NOT interchangeable so i did not need to go any further.  However, if you needed to change or check the inner bearings all you’d need to do is unscrew the nut. 
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While i had the tools out I decided to tune another X2 pedal set of mine.  First step, remove the grease cap.
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Undo the holding screw (torx interface) and pull the spindle out.
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I’m also replacing the bowties with my custom aluminum pieces.  Like i mentioned I used the wrong tool when cutting the chamfer and the angle came out too short.
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Nothing that a grinding wheel cant solve!
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Ti spindles + Aluminum bowties + gratuitous amount of grease = 137.9g