I've uploaded a few photos of the reel/blade assembly.
Cutting adjustment is via a pair of long screws that alter the distance between the reel ends and the fixed blade. If the reel isn't bent, the adjustment should be uniform along the length of the blade.
As to disassembly, the unit seems 'sealed for life'. The blade is permanently riveted to the base of the reel and the reel hubs are similarly riveted to the frame - I've tried to show this in the last two photos.
The bearings are sealed and seem OK.
There is plenty of depth left on the blade with a lot of adjustment still available. If I can get it sharpened, it'll be serviceable for years to come.
Hope this helps,
Chris
![[Linked Image]](https://www.outdoorking-forum.com.au/forum/uploads/usergals/2012/04/full-5834-6028-reel_blade_assembly_1.jpg)
![[Linked Image]](https://www.outdoorking-forum.com.au/forum/uploads/usergals/2012/04/full-5834-6029-reel_blade_assembly_2.jpg)
![[Linked Image]](https://www.outdoorking-forum.com.au/forum/uploads/usergals/2012/04/full-5834-6030-reel_blade_assembly_3.jpg)
![[Linked Image]](https://www.outdoorking-forum.com.au/forum/uploads/usergals/2012/04/full-5834-6031-reel_blade_assembly_4.jpg)