Joined: Jan 2009
Posts: 43,982
Likes: 6,168
From: New York, NY, and High Falls, NY, USA
Bikes: 1962 Rudge Sports, 1971 Raleigh Super Course, 1971 Raleigh Pro Track, 1974 Raleigh International, 1975 Viscount Fixie, 1982 McLean, 1996 Lemond (Ti), 2002 Burley Zydeco tandem
kcaut, you did great.
Rust inside the rim is common. Scrape it out with wire brushes. No need to worry. You'll need to collect rust in it for another 150 before you need to worry about it rusting through.
i just love the quality of steel on these bikes. The bolts and nuts are made better than just about anything today. I even love the clip that holds my brake cable to the top tube. It's so stout!