The metal bits soaked in Evapo-rust over night. They are awaiting a good polishing up. They were very rusted or tarnished pretty good. I have one that was a lot worse. It cleaned up pretty good that way, too.
We did nothing for the damaged decals but coat - you will need to look at Glenn's tutorial. http://www.quiltingboard.com/search....archid=7720909
That should be Glenn's profile. He has quite a bit of info on cleaning up the finish on the sewing machine and the cabinet. Look through his posts and glean lots of information.

How wonderful to have the machine you watched your Grand Ma Ma sew on!