I started my first ever cleaning last night so I don't know how effective my methods will be, but I've done a lot of research and know how I'm going to go about the project.
This is for a drum with chrome hardware and a wrap. Other finishes might require different materials. Remember to test all liquids/polishes/chemicals on an inconspicuous area to make sure they won't ruin the drum.
First things first, I wear nitrile gloves to keep any of the harsh chemicals off my skin. Regular latex gloves are susceptible to some of the liquids here. I also wear safety goggles if I'm using the really heavy duty stuff. You might not notice it, but there will be liquid and gunk flying around as you scrub. It's better to be safe and have a racoon-looking imprint on your face when you go to dinner... than blind.
Lug Casings: Dawn and water with a soft toothbrush (different toothbrush for lug interior), Q-tips for hard-to-reach spots. I do the interiors first because the crap in there is gonna spread to the exterior and you don't want to have to wash the outside again. Wet aluminum foil rubbed softly on rust spots and tough stains/discoloration. Dry with a microfiber cloth, again use Q-tips for hard-to-reach spots. Allow to air dry anything you may have missed. Apply Flitz polish to the inside and outside of the lug and then Meguiar's carnauba wax.
Interior Lug Pieces: Whink rust remover in a glass bottle/container and tumble washers/screws/springs around every few minutes for 30-45 minutes. I haven't tried longer yet but I might let them sit over night if I have any pieces that won't come clean. Rinse with water, scrub with soft toothbrush and dry. Wrap your springs in 100% wool felt. It will resist moisture and won't break down over time like cotton or other materials. Some people recommend foam but I have no idea how long that stuff will last.
Tension Rod Insert: Gun cleaning parts are useful here. First, spray brake cleaner on the threads of the insert. Run a .22 caliber wire brush through it a few times to get it soaked and to get all the gunk broken up. Use barrel patches and a slotted gun cleaning rod to clean out all the crap left over. Do this until the patches come out clean. Dawn and water to wash the outside of the insert, polish up with Flitz and wax with Meguiar's same as the lug casing.
Tension Rods: Brake cleaner sprayed on threads and wiped down with a cotton cloth. All the grease and dirt should melt off the threads. If you have an attachment for a drill that will fit the head of the rod you can run them through steel wool. That'll clean them out really quickly. Probably wouldn't even need the brake cleaner. After you're done wash with Dawn and water to clean up the shaft and head, if necessary. Don't know how they'd react to a polishing but it's worth a shot if they're really dull. Once you're ready to put the head on the drum you'll need to apply a very small amount of 3-In-One oil on the tension rod's bottom-most threads. You don't need to cover all sides, and make sure to wipe away any excess that pools. Remember: a little goes a long way with this stuff. You don't want any excess lubricant dripping from the threads and coming to rest on your wrap or finish. The tension rod insert and threads of the tension rod itself will get a good coating of lubricant once you start tuning the drum so just know that you don't need to over do it.
Drum Wrap: Dust and wipe down shell to get all dirt and grime off. Use Novus 2 to fill any fine scratches and get rid of abrasions and haziness. Apply it until the finish reaches a standard you're happy with. Follow the instructions on the bottle to determine what results you want to get. After applying Novus 2 apply Novus 1 to clean and polish the wrap. Again, follow the instructions on the bottle. Wax with Meguiar's carnauba wax.