hI sHNIBOP -
WOW - It looks like someone went through a great deal of trouble to upgrade their baby (though I could do without the stem shifters). The Capaella lugs look great in Chrome! I don't think it would be difficult to arrest that little bit of rust - a little rust-to-prime converter and a daub of chrome paint would make it hard to detect.
What crank, DRs and levers are on it?