Originally Posted by
francophile
Editing because my original comment might come off snarky.
I can't see anywhere above where anyone suggested using steel wool, especially not on the frame. I see I suggested using ultrafine (0000) bronze wool on the rusty chrome spots (i.e. FD cage), which is night and day a different product. Bronze wool is lightyears more gentle than steel wool, it's as soft if not softer than some automotive polishing compounds. However, with how fine 0000 bronze wool is, used intelligently, won't impact the the clearcoat any more than a compound will. I've used it several times to feather out defects in clearcoat on numerous occasions.
Fair point francophile, I misread your post a bit. I just thought it should be stressed that the chrome on the frame and fork is clearcoated and not bare chrome. I have used bronze wool for lots of different stuff but wouldn't use it on 50 year old clear coat, there's so many better products to use with less chance of damage.