The original crankset secured with a nut.
Crankset removed. On the left is the Sugino XD2 with 46, 36, and 26 tooth chainrings. The old crankset is equipped with 50, 45, and 28 tooth chainrings.
After removing the old crankset I slid on the new one. It was immediately apparent that this wasn't going to work. This was as far as the crankset was going to go on the spindle.
I gently replaced the old one on the spindle for reference. I just noticed the rust on the dérailleur adjustment screws.
When I compared the two cranksets I realized that the backside of the XD2 crankarm protrudes and is flush with the small chain ring whereas the old crankset is recessed. I was hoping to save a little money by using the old bottom bracket. I'll just bite the bullet and pick up a new one tomorrow.