Step one was the removal of a couple layers of rattle can blue and silver paint. I did this with a chemical paint stripper, which laid waste to the top coats of paint, but was luckily ineffective at attacking the bikes original coat of blue and white. With the original paint scheme uncovered I took out my camera and sketch pad and documented the bikes original markings for future reference.
From this point the "body work" was unremarkable, some minor dent repairs, and a good prep of the frame. Eventually the bike was repainted in red and white, red where it was formerly blue, and ready to re-assemble.
The front hub and bottom bracket were easily overhauled, but the rear hub was shot. Due to the poor condition of the hub and the fact that I couldn't find an early chain to fit the bike, it became an ornament on my basement wall. That is, until I decided to "rod" it. (page 2)