Joined: Nov 2006
Posts: 19,810
Likes: 597
From: NJ, NYC, LI
Bikes: 1940s Fothergill, 1959 Allegro Special, 1963? Claud Butler Olympic Sprint, Lambert 'Clubman', 1974 Fuji "the Ace", 1976 Holdsworth 650b conversion rando bike, 1983 Trek 720 tourer, 1984 Counterpoint Opus II, 1993 Basso Gap, 2010 Downtube 8h, and...
Yeah, rinse the salt off and dry everything ASAP.
I doubt the bearings need to be replaced, but overhauled is probably a good idea. Rust doesn't happen overnight; it will happen, for sure, but you have a little time on your hands. Get the bearing races clean and greased, and they should be fine.
WD40 is a water displacer; that's what WD stands for, anyway. It should get between the water and the steel. So once you have rinsed the frame out, and let all the water drip out, and let it dry in the sun or on a radiator, it might be a good idea to spray some WD40 in there as well. Frame Saver is even better.
What town are you in? I'm in Lawrenceville, between Trenton and Princeton. But I'm afraid I do not have a good workspace to offer.