Well, I've gotten a lot done but still have a ways to go. I haven't been taking as many pictures as I planned on because I'm in a hurry to get it done. At this point, I have the tailstock, cross slide, compound, apron and 3 jaw chuck all cleaned, rust removed and painted where they needed paint. That is most of the business end of things. I have moved on to the pulleys/motor/electrical area of the lathe today. I apologise for a lack of pictures, I will make sure to get some as I start putting things back together (hopefully next week).
This has been a great experience! I will know exactly how to do all of the needed adjustments and have developed a better understanding of this lathe and how everything relates to each other. This may even be better than just buying a new lathe in some ways. I will know everything there is to know about the parts and I've made mental notes of areas that I will want to be mindful of as I use it.