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I use one of those wire brush wheels on a grinder for the rusty bits - they're not as aggressive as they look.
for fiddly bits I use scrunched up bits of aluminium foil or thin strips of emery cloth
If I want a really good polish on the exposed bits I then use super-fine emery cloth, and a once-over with Autosol.
Degrease with a solvent of your choice - I use car brake cleaner and then clear-coat
Any tips for cleaning up flakey paint and polishing the bare metal? My Donohue could do with a similar treatment!