Rust removal, use a good oil, Hoppe's, 3-n-1, or whatever with a scrubbie - should remove the rust if it isn't too deep.
Stock refinishing will start with a good light sanding to remove any existing finishes. IF it needs any staining, use a good gun-oriented one, followed by Tru-oil, or similar gun finishing oil - even a good triple-boiled linseed can work