A few questions regarding a rusty restoration of a Mongoose Tyax Comp
 

Hey bikeforums, I just found this bike (Mongoose Tyax Comp) buried in the mud during a low tide stroll along the beach, so I decided to restore it. (Don't worry, I checked to see if it was reported stolen.)

Muddy and rusty:
http://img228.imageshack.us/img228/7370/vj4g9.jpg

Washed and ready for some new components:
http://img225.imageshack.us/img225/7593/img0210q.jpg

Buut.. here are my questions:

1: It appears that the crank arm(?) is broken straight off.

http://img693.imageshack.us/img693/8591/img0213vz.jpg

How on earth do I remove the crank set?
Closeup:
http://imgur.com/Glly5.jpg

2: Is this component(I think its a Shimano Acera) salvageable, or should I just buy a new one?

http://imgur.com/L6SUt.jpg
http://imgur.com/O5Qvs.jpg

Cheers.

To remove the crank and tool suggestions try this http://www.parktool.com/repair/readhowto.asp?id=103

Try cleaning up the derailleur and lubing it, see if it works.

Kudos on the rescue. I made my dad's bike that way. Chances are you could rebuild the derailleur easily enough, but check the pivot for play first. A lot of shifting issues with those are traced to pivot play. A new unit to replace that, actually better, would only be in the 25-30 dollar range. If you are putting a new crank and chain on it would be a minor price for a full package deal. It would save some issues later.

Thanks for all your help guys, the build was successful and it turned out like this:

http://imgur.com/h8nc8.jpg

Nice work. Congrats