I think its there to brace the inner roller of the bearings when you tighten the axle nuts so I would clean it up grease it and use it and it sounds like you definitely need new bearings as well. I have a Gforce as well...Love It!!!
Mmmmmmm biscuits...... with honeyYa, if you dont maintain them they are a biscuit to get off. I had to torch mine of :wow: