Updated photo of bike
Hi to anyone following this thread. Here is an updated image of the bike after stripping the old lacquer and cleaning up the components. I used a "green" furniture stripper to remove the clear coat. Worked well. Then I used CLR rust remover on the couple of spots where one would expect rust after 45 years: bottom bracket, chain stays, back of seat tube, etc. That worked well especially when followed up with a baking soda polish.
Aero seat tube
That process went well, but the crank was on another frame (unused for ten years or so) and the BB cups had frozen onto the bottom bracket. I had to put the bike frame into a shop vice to be able to get enough torque to remove them. Needless to say, the cups are toast. Otherwise the gruppo is in good shape. All original SR 1981 vintage (although I have my doubts about the wheel hub axles... is titanium magnetic?).