Thanks for the support! With the help of my son, I got the screw turned about 1/4 turn, then put sewing machine oil in the grooves overnight. That seemed to really help. I WILL NOT take it out - thanks for that advise! It does have to be able to turn some for thread adjustment?

Yes it does need to move. You are lucky you didn't get it all the way out. It has a horse shoe shaped thingy that has to fit between a couple other thingy s and they are all in a place you can't reach or see easily. (that is clear as mud)

Thank you for your great tutorial, Glenn. Although the post is a couple of years old I hope I can ask a couple of questions.
If you intend to touch-up some of the decals do you apply shellac first, paint and then shellac again? or skip the first shellac application?
You mention before painting the pin-rash that a person should remove rust. Can you add details? If the japanned surface has eroded away in some places does one apply Evaporust in those areas first before painting? I'm just not sure how to prep before the painting step. Thank you, Sue

Results are unbelievable.

Beginners luck I guess!

Next question, the tension assembly.....I have oiled it thinking it would make the screw come off a little easier. Hasn't happened. If I do get the screw to turn, it is relatively easy to take off and reassemble? I will be careful to take a pic with each thing taken off. I will be using the MAAS polish, correct?

Yes I usually apply evaporust to the areas with a small artist paint brush and be sure not to get it on the decals. Then I use aniline dye( alcohol soluble) mixed with shellac to make a black paint. Paint only the the areas that need it and it make take several coats to make the blend. I touch up the decals with gold paint after cleaning and before shellac. After touch up then you can apply shellac to protect the repairs. It is never to late to ask questions and I am always around to help.
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I tried this yesterday but don't see any difference. Normally I have to soak parts for a few hours. Does painting a dab on the rusted spots remove all the rust? Should I be dabbing it often? Then do I still rinse it off?

I usually keep putting a little on at a time just as long as you keep it damp with the stuff. It takes about 30 minutes. Wipe the area with a little naptha and then use fine sand paper. Now paint.

Thank you. So I just didn't keep at it long enough. :)