Thanks, I've been carefully over it, and worked out what needs doing;
The rust to the top of the cooling cowl and muffler has bubbled through the paint, causing alot to come off just by wiping it clear of the dust, so I will be carefully applying a small amount of black paint to these area's to cover it over.
Aside from that, a toothbrush, some penetrene, and a few denim rags have cleaned everything else up really well, so nothing else will be done to these area's.
The bare metal (non-chrome) parts will be cleaned, polished, and given a mild artists clear coat (I chose one used to preserve paper, as it is much thinner than clear coat, and can be wiped off with a rag and water, it also does not have it's own sheen, so it does not detract like clear coat can on bare metal)
The cowl will need a little gentle heat where it has warped, and the air hose needs to be placed over a broom handle for a little while to level out the kinks from being folded for 40 years.
Aside from that the only issue is the marks on the front of the base, caused by termite activity, which I am having trouble working out how to remove without damaging the paint.
I have put oil in the bore and circulated it gently, but it will indeed never be started.
The box is going to be interesting, I have sought the help of a friend who works in document restoration/preservation, and the first step is a special glue i need to get to put the pieces back together.