Jay, I would do a bit of filtering before I tried to rescusitate seized ballraces that have to run at engine speed. If they are just stuck with hardened goo (oxidised oil) I agree with your plan. If they show any signs of brown rust on the track sections of the inner or outer rings, I think it's best to put them straight in the skip. Any roughness on the track at high speed will cause chipping and track erosion - and if there is rust, there is roughness.
It is often a different story with bearings that will only run at low speed and light load, of course.
