Thanks for all the suggestions. I will try the lemon oil to see if it does the job. If not, I will try another approach.

FYI - The 1959 Ludwig transition era 18X20 bass drum and 9X13 tom I won on EBAY just arrived today. I got a good deal on these project drums (only good cleaning, bass rim paint touchup and new heads required). I have just started cleaning the hardware. Went to the automotive supply store and got some Turtle Wax Chrome Polish & Rust Remover, which did a great job of removing the oxidation and light "rust" from the hardware with little effort. Dull and rusty to bright and shiny, nice!

When I am finished, I will have double 18X20 bass drums, man I really needed a new challenge!!