I purchased a 1960's Schwinn American from a fellow bike club member. I finished takeing her apart last night. Tonight I begin cleaning the frame, chain guard, fenders, seat, rims. & sproket of the surface rust.
Everything else that is chrome wil be replaced, that includes the handle bars, stem, seat post, basket & crank.
I am going to have both wheels re-laced with new spokes. The front will have a new hub, but the rear will have its original Bendix hub re-packed with new bearings.
For he head light, which does work I am going to spend the money and have it re-chromed.
The bearings for the crank and head set will also be replaced.