everything gets removed, and the individual components are submerged in a big coffee can of mineral spirits for thirty minutes. they're removed from that and scrubbed under a dripping faucet. parts still rusty are submerged in naval jelly for ten minutes. some of the stuff like the rear derailleur is always fully overhauled, down to the tiniest nut. if the brakes (like the springs) are still rusty, they're completely disassembled and dunked in naval jelly as well.

don't forget to spray all the spoke nipples wih a light aerosol oil, then tune them all down and then back up like a guitar.