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Personally I wouldn't bother.It's a common part that in most cases doesn't look like yours unless it had sat with the wheel off for quite some time.Most I have taken apart looked near new.The bolt is black phosphate,again common.Both pieces are under the wheel,never seen.Even if it were a concourse restoration,I don't think anyone removes a steering wheel.I'm sure there are quite a few board members that have one laying around that is in acceptable condition if you ask.If you're set on restoring it,glass bead it and go over it with some #.0000 steel wool and clear coat it.As for the bolt,run it on a "fine" wire wheel,it will look new.

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it's not so much that i want it to look concours, or anything like that, i just don't think there is any point to putting a rusty part like that back together without a few minutes of work to clean it up.

i don't need to spend hours on it, just get it cleaned up and rid of the rust. i have to go find the evaporust, (which wouldn't be bad to have around anyway), but will try this also.

thanks everyone!