Originally posted by photoptimist But first a question: you say the lens focuses at 1.5 meter at it's furtherest. Is the image nice and decently sharp across the frame or is it unexpectedly blurry in the center and/or corners?
If it is sharp, that indicates that all the elements are in their correct relative positions but something prevents the whole assembly from moving close enough to the sensor or film plane to achieve infinity focus. That suggests an issue with how the helicoid or the focus ring are assembled together and relative to each other. Some lens' helicoids have multiple starts so that rotating the inner or outer helicoid by 180° (for a 2-start helicoid), 120° (for a 3-start helicoid), etc. gets things in the right location.
I believe @photoptimist has identified the most likely problem here.
It's a while since I've serviced a 44M, but I'm pretty sure it has two or three possible positions in which the inner and outer focusing helicoids can mate, and only one of them will give the required focusing range.
The thing to do is disassemble to the point of unscrewing the helicoids. Do this last part slowly, with a gentle "pulling apart" so that you know when the inner and outer sections have released. When they have, stop unscrewing them, push the two together gently and then keep rotating in the same direction. You should feel a gentle click from the threads when the next possible position is reached (this will be very subtle, but you should be able to feel it), at which point reverse the direction of rotation to screw the helicoids back together again. Re-assemble, test, and if it's still not working, try the same approach again.
Does that make sense?