Hi Adam
Depending on how bad those rust spots are will dictate how aggressive you  
are.
My first step on tools such as planes is to disassemble and bathe the parts 
 in
very hot water (wood parts are excused from this process).
Soap and vegetable/nail brush as well as toothbrushes, bottle brushes etc  
for
those hard to get at spots.
Many years of dust, grime etc can be removed this way as well as surface  
rust.
The parts after a toweling will continue to dry in areas you haven't been  
able to 
reach simply by the heat accumulated thru the hot water.
Now you could throw this stuff in the oven and use low heat to dissipate  
the moisture...
probably while SWMBO is out shopping or something ;>)
I keep a designated oil rag to wipe down the parts, a toothbrush dabbed  
with
small amounts of oil to get in tight spots, threads etc (I use any motor  
oil
that's handy but if you have other preferences...sokay)
This does not eliminate rust spots...just cleans em up, makes em look  
better
and retards their growth.
Regards
Bob in Ohio who is still "thinking" Spring!
 
 
In a message dated 4/22/2014 12:06:12 A.M. Eastern Daylight Time,  
amaxwell@m... writes:


On  Apr 21, 2014, at 20:14 , Kevin Bock   wrote:

> I recently traded one of my gold fillings for an old  Stanley 45 that has 
about 85% of the nickel plating intact. By the looks of it  it's spent the 
last few decades on the shelf  collecting  dust and  rust.  (Snip)
Adam