Chipped the paint on the chain stay with a pedal wrench a couple of months back. The bike hasn't been outside since but I am about to put it back on the road. Is there anything I should be worried about or that I should do about this chip? (not too worried about cosmetic issues, more worried about rust/functional problems I don't know about yet)

Don't worry about it.

Maybe put some clear nail polish on it, if you can't get over it.

forget about it. enjoy the bike, no problem will arise from that

Except for the spot of rust that will form on the bare metal (if steel). Clean the spot and put a dab of paint/clear polish on it if you are worried.

don't ignore it-- clearcoat it. prevents 1) spreading 2) rusting.

aside from that, chips add character.

Ask yourself, 'is my bike a showpiece or a tool?' and act accordingly.

are you serious

are tiny rust spots that big of an issue on frames? my frame is chipped and scratched to hell, I cant imagine little spots doing any real harm within a reasonable amount of time...

eventually, rust will eat your frame - you might not see if from the exterior, but eventually rust dust will come out from the inside when you take out the bb or seatpost or whatever.

just use some framesaver before it gets worse.

wax it or refer to the above suggestions.

put some clear nail polish over it, It will protect your frame and keep it from spreading

Are you suggesting framesaver on the outside of the frame? I already have the inside of the tubes framesavered

no