All the advice can be found at sheldonbrown.com or the Park tool web site.Rust has been discussed in these forums at least several hundred times, google it.
i don't understand why every noob with a French bike gets the spiel about how hard it is to find French threaded or sized parts. More Sheldon folklore? Vintage Raleigh parts can be difficult to source as well. Furthermore, at least in my experience with French bikes, the headset, bottom bracket cups, even the quill stem, and axle cones are all fine and may just need a good cleaning and fresh grease. Ball bearings are standard dimensions. Only problem is finding new cotter pins that don't need hand filing. There may be a need for a unique crank puller and pedals can be tricky, but that's about it. And all the French size and thread issues generally apply only to bikes preceding the early 1980's. Campy parts often need special tools, but I don't hear moaning from the Campy Chorus!