Alright, so I broke the bike down nut and bolt here in my apartment, used evaporust where I needed to, cleaned and repacked all bearings, and cleaned up the frame/fork/rims as best I could. I was so excited to go ride this thing and take pictures but it is not even close to done.
Even though all bearings were cleaned and repacked, I have learned they were not salvageable. I need a new headset, bottom bracket, and wheel bearings before I ride this thing. Also I would hook up the rear brake (which just has some placeholder pads in right now. Ideally I would've replaced these first thing, but im trying to stay low buck for now, and in my apt. I do not have the resources to do everything I would like to, and i would rather do it when I go home to my parents for the holidays in my dads shop. So it will most likely be until then before this thing sees some real ride time.
I am on the lookout for a Deore XT rear derailleur and shift lever at a good price.