Guy I work with gave me two bikes. One was a Murray 10 speed department store bike, no big deal. The other one was (is) a Concord Pacer S/S. The date on the bottom of the seat says "11/01/1976" so I am guessing it's the original seat AND that's close to the assemble date. My brother took one look and decided he wanted it so I am fixing it up. There is no alloy on the bike, all components and the rims are steel. Quite a bit of rust as well.
I took the rusty pits and gave them a bath in Iron Out (works great!!). The seat has rust on the springs and other chrome metal bits on the seat. I don't think I can do anything about it without ruining the seat itself. All of the bearings had hardened grease but they were still serviceable so I did a clean and repack.
The bike won't be an a-1 looker, but I think my brother will like it. Hopefully I can run into a halfway decent parts bike or find some parts at a swap meet and make it look perfect. Until then my brother will be loving it regardless.
Thanks for reading my ramble.