Got it! - '84 Schwinn Traveler (and rust)
 

Finally retrieved my '84 Schwinn Traveler...My excitement was a bit doused when I saw there was more rust than expected. No worries, just adds to the fun of the project (I hope).

So about rust...I haven't had a chance to really look it over (going to spend time with a beer and the bike in the garage :) ) but I did notice the front larger chainring on the outside looked to have a layer of rust. Not deep, really just looks like a thin layer. In fact it is such a thin layer it resembles something that was to close to someone using spraypaint (splatter).

Anyway, thoughts on cleaning this? Thanks!

If you have a jug of vinegar in the house, pour a little bit into a clean old can and scrub the rust off the chainring with a toothbrush and the vinegar. If it's just surface rust the acetic acid in the vinegar will brighten that ring up. :)

Dont use it on your frames' paint though....

I've read that deck bleach, oxalic acid, is great for removing rust. I need to use that on my peugeot when I get home in two months.

I didn't check the inside of the frame for rust and I'm terrified of what I might find inside. I hope it's good to go or all my plans might be completely shot :(

There's not any frame rust on the outside so I think I'm good, just the fork and some of the nuts and bolts :)