The rust should come off with a simple home made electrolyze bath. I used it on many of my old tractors projects with great results. Probably still need machining on Journals.
Yes I know its not in great condition but figured that with some bead blasting and a regrind it might be salvagable.
I guess the main issue is whether a regrind (-40) would clean up the journals, I guess the rust may have gone too deep? Also the oil feed quill will need cleaning up which hopefully will not cause loss of pressure.
If it is salvageable then it would probably get crack tested and rebalanced at the same time.
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