Hello,

I got a old Japanese bike that I have been cleaning and fixing. It is looking very clean and nice now, but I noticed today when I took the screws to attach a bottle holder that there was some rust inside the frame. From cleaning with a ear bud it seems to be just surface rust but I can't be entirely sure of that.
Would this pose much a problem in the future. I tried spraying as much oil inside the two small holes(5.56 crc multi purpose).

Is there anything else I can do?

Also the old plastic around the brakes has been sitting in a warm garage too long. It looks like if someone melted the plastic with a flame and now it has turned into rubbery hard stuff. It must be a old type of plastic, any idea how to remove this stuff?

Thanks,