Rides Majestic
Join Date: Jan 2013
Location: Westfield, MA
Posts: 1,339
Bikes: 1983 Univega Gran Turismo, 1970 Schwinn Super Sport, 2001 Univega Modo Vincere, Self-Built Nashbar Touring, 1974 Peugeot U08, 1974 Atala Grand Prix, 1986 Ross Mt. Hood, 80's Maruishi MT-18
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I have done this to quite a few bicycles and find it to be very rewarding. When you are done you will have a feeling of accomplishment and pride of ownership that can't be had from simply unfolding your wallet.
I basically cut all of the cables first, toss them and remove the wheels, derailleurs, brakes, chain, and cranks and put them in a box. I remove the bottom bracket and clean/ repack it. I then take the Stem/fork out and repack the headset. At this point you can clean the frame and polish the paint. Next you can clean/polish and reinstall each individual component. Remove the cassette/freewheel and you can repack the hub bearings then true the wheels. Install the chain and cables and tune it up. Good luck.