Sanding with a very fine grit paper will polish the shaft without to much metal removal. After you get a good clean up re-install the shaft with a little "anti-seize" paste smeared over middle to bottom of the shaft.
Note: anti-seize paste can be found at most auto supply houses. A little goes a long way so don't over do it. Also this paste will NOT wash outta your clothing so take care in handling it.
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My preferred bicycle brand is.......WORKSMAN CYCLES
I dislike clipless pedals on any city bike since I feel they are unsafe.
Originally Posted by krazygluon
Steel: nearly a thousand years of metallurgical development
Aluminum: barely a hundred, which one would you rather have under your butt at 30mph?