The Brave Descender
Join Date: Mar 2005
Location: S.E. Pennsylvania
Bikes: Univega Viva Touring, Cannondale Six/13
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For starters, most surface rust can be cleaned off wd-40 and 0000 steel wool.
The green paint on the frame appear to be in good shape, so you can leave that alone for now and start working on cleaning and repairing the components.
It looks like it will need all new cables and housings. Tires and tubes are probably shot. And the pedals, chain, freewheel and dork disk are going to need a loving bath of oxalic acid me thinks. Do you have any bike specific tools?
In life there are no mistakes, only lessons. -Shin