Too far gone or not??
 

Picked up this Bianchi frameset in a bit of a sad state. It has some rust and as a result some corrosion around where the rust was. Mostly around the lugs, BB and top tube/seatube. I assume this is likely from sweat and neglect.

I need to evaporust a bit but you can see the pitting at the joints of ht spots that have already been cleaned off.

I assume it is fine / safe but thats only because i want to build and ride and enjoy it.
The consensus here will likely be that it is junk but thought i better post to see how far gone is too far gone.

Thoughts?https://cimg7.ibsrv.net/gimg/bikefor...4acd4063fc.jpg
https://cimg1.ibsrv.net/gimg/bikefor...88b0a4bcc4.jpg
https://cimg3.ibsrv.net/gimg/bikefor...d0d23e93ac.jpg
https://cimg6.ibsrv.net/gimg/bikefor...ff67471f05.jpg
https://cimg2.ibsrv.net/gimg/bikefor...d648904796.jpg
https://cimg4.ibsrv.net/gimg/bikefor...66be8a8563.jpg
https://cimg5.ibsrv.net/gimg/bikefor...9c4e66650a.jpg

You have to dig around those lug joins to see if rust has 'eaten' thru a tube.

Remove the remaining paint close to the lugs, clean the rust, then scrape at the lug lines.

Another check is to remove the surface rust from the inside of the tubes near the lugs. Naval jelly on a rag is my choice. Inspect for any signs of tube degradation near the tube/lug joins. re-edit: A cheap, small dental mirror and flashlight make the inside-the-tube-job more reassuring..

edit: Still some paint (barely) around the seattube at the BB shell. So there may be good hope for a positive outcome.

It hasnt eaten through anywhere. I have prodded plenty. Just pitting....as shown.

My interest would be the underside of the top tube length. My vies the paint is toast, the rust needs to be arrested. I would not sandblast, chem warfare strip.
Document well the graphics and position of them. Match the paint and repaint it.

+1 for the none too harsh strip and repaint. Celeste colour ref should be here somewhere... Enjoy!