Yes, it was 0000 grade steel wool and a slight touch of WD40. There was minimal etching/scratching from the steel wool and the final polishing eliminated most of the scratches except for the deeper ones that were already there. As the rust came off I was surprised to see the cranks almost had a brushed type finish. Maybe that was from someone using sandpaper in the past.

The pedals are going to need some oxalic acid which I'll go find. They're Lyotard Model 36's and they'll be next.