I agree with Alex M. that preservation is preferable to restoration in most cases, as long as there is something left to preserve. Bicycle Quarterly did an article with a good half dozen case studies, and looked at what we would recommend for each bike.
Once you have decided to preserve, it comes down to technique.
When a bike is getting rusty, you need to conserve it somehow.
I have found that using a toothbrush and a good-quality car wax will clean and preserve in one step. It is relatively non-intrusive, and does not appear to damage fragile decals and paint (don't scrub too much!).
Jan Heine
Editor
Bicycle Quarterly
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Seattle WA 98122
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