Old bike, new bike (part 2)

For the first part, please click here.

After cleaning the rust, there's one thing to clean up, specially in the Chain and the Chain Rings: Grease.

Grease can be tricky to remove, specially if you don't have some Gasoline, an Air Gun and an Air Compressor. If you have all that, then you'll be fine, just take the greasy parts and spray them with small shots of gasoline, take your time and don't waste too much gasoline by keeping the gun trigger pressed non-stop. The air pressure will take care of reaching al the little corners without too much effort. Make sure to wear protective stuff and to be ready for things to get a little greasy, use a piece of cloth to clean some grease/gas excess from time to time.
Submerging the parts in gasoline is also a possibility, but I'm guessing it takes more time and involves using a brush at some point, it's just too messy but it works.

The last things that must be cleaned are the spokes + rims and some rusty nuts + bolts. I used some Steel Wool for the spokes + rims. Steel Wool can be a killer to clean those things, but it can also be a killer to your hands, so make sure to wear gloves. Then, I used some rust-eating acid from the paint shop (not the Oxalic Acid I mentioned earlier, but some red acid on a small bottle) to submerge the rusty nuts + bolts and it worked like a charm (make sure to use some tools to deal with the acid, never touch it with your hands).

Step 3, painting.
I bought some spray paint cans before knowing I had access to an Air Gun + Air Compressor, but both processes are pretty much the same when it comes to spray the paint on the surface. Make sure all your parts are smooth and clean (I did use some sand paper + water before painting, to smooth and clean all the parts to be painted) and then spray them with a couple of layers of rust-proof paint, let it dry (in the sun would be best, summer sun if possible) for at least a day and then use some very small-grain sandpaper (600) + water to make it smooth again, don't sand the surfaces too hard, just do it softly and for a short time. When the surfaces are dry and smooth, spray them with a couple layers of the final paint, then let them dry for at least a day. I choose some "smurf-blue" paint for most of the parts and silver paint for the mudguards. Here you can see some of the parts drying out, the chain is covered with journal paper (after being cleaned). I had to use whatever I had to keep the parts "suspended". Painting is the funniest part (IMHO) of a bike restoration process. Piece of advice: make sure NOT to over-paint with the silver paint.

Step 4, assembly.
Assembly can be simple if you took pictures at the beginning. Just make sure to let all the parts dry out well and be careful with applying to much force while adjusting some nuts, some paint will come out but just try to keep it to a minimum. Regarding some parts that cannot be restored (tires, cables, perhaps the pedals), go to your local bike shop and buy them.
The silver paint can be problematic to handle if you applied too much of it (your fingerprints will remain on the surface), so handle those parts with care.
After assembly, this how the bike looks (there's a little assembly mistake in the rear photo, can you find it? Also some fingerprints on the mudguard):

Thank you for reading!