jnoola

I'm in the process of rebuilding a Univega Gran Rally and I am looking for advice on updating the components from the original Shimano 600 arabesque components. Since it's a vintage frame, compatability with newer components is tricky and I don't know a crazy amount bike rebuilds! Any advice on the components or the build in general would be super helpful.

fender1

Welcome.
Is there a reason you are upgrading? Does something not work or is there a problems of some kind?
Some more details on what yo are trying to accomplish would be helpful in giving meaningful advice/ suggestions.
Also many older components just need a cleaning/adjustment to work well.

jnoola

Unfortunately, the bike was in a very salty/humid area so I had to sand blast the frame and remove a good amount of surface rust on the frame. Luckily the rust does not appear to have caused any structural damage to the frame. The original components on it - some are salvageable but many are quite rusted. I am in-between on if I should try to upgrade the components or hunt for replacements of the Shimano 600 arabesque set - as they are stunning...

Insidious C. 

Welcome from another rusty Gran Rally owner. I find it helpful to nail down the gearing (desired or parts on hand) first- how many cogs and number of teeth on cogs and chainrings. Are you okay with friction down tube shifters?

Bianchigirll 

In general the answer to your question is yes, however you need to make sure some things like the bottom bracket are the correct threading (probably English for your frasme) and match the cranks. Do your bike have cantilever style brakes? trying to mount newer V brakes may be an issue.

Any pics? Upload them to your albums and we can see them.