I had a long, detailed response to this thread, but my mouse slipped off the desk and the post was erased.

Suffice it to say, this is a Robin Hood and I seriously doubt the 'handlebars, stem, wheels, cranks' were chrome plated.

Steel wool is fine.

Lighten up.

This bike was a $5, abused in the AZ sun for 20 years, left outside, rusting hulk special. Steel wool and rubbing compound made it an attractive, sellable, bike.

Steel wool wouldn't hurt anything on a Robin Hood!