Originally Posted by
ConnoisseurEqua
As one can see all cables removed. Nothing should stop it to come out.
As I mentioned earlier, it moves free, not without effort though.
Well, you should have said so!
You are holding back some details! Have you already used penetrant? It looks like that rust is wet with something.
When you thread the bolt in, are you able to tell if the wedge is loose? If not, smack the bolt with a hammer (with some wood inbetween if you want to keep the bolt looking nice) to get it fully loose. It might be stuck to the bottom of the stem just enough to be keeping the stem locked in the steerer.