Yes, the New Home has been cleaned up and sews quite well. I haven't done anything to it's paint yet as I'm still looking for some case latches and a face plate. I got a couple nice shuttles for it from a QB member last year. Once I get all the parts I'll get to it.
Here's a current pic of it:
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As far as the rust on the controller, I'd use 4/O steel wool and oil to lightly scrub off the rust, then I'd degrease it and paint with Krylon or RustOLeum (sp) spray paint.
Navel Jelly is nasty stuff and I wouldn't use it on sewing machines.
Joe