How rusty are we talking? Is it crusty of light surface rust?

If it's light without pitting, then phosphoric acid will take care of the rust without any sort of abrasion necessary.

Then again, I know nothing about building engines.

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1998 Ford Escort ZX2 5 speed - 279,000 miles My Daily

1992 Mercedes 300D 2.5 202,000 - Pure junk
2000 Mercedes E320 Black - 136,000 miles - Needs repair

Don't forget to grease the screw and threads on the spring compressor.