Such a shame to have left it out in the rain! While you are doing the overhauling of bearings, it would be wise to purchase some Frame Saver which is used to coat all the tubes internally to stop any rust from progressing. There are tiny holes somewhere on each tube of the bike which will allow the application of this. Also, I'd remove the seatpost (if not already stuck!) and give the alloy post a coat of grease so that it does not corrode within the steel seat tube. Moisture is not your bikes' friend.

ps No decals might be unbecoming, but a lot depends upon whether bike thieves are active in your area - and where you'll be parking the bike. Honey draws flies. A really spiffy bike will attract more attention than an anonymous one.