So, I have lots of other "projects" in process, but this is one that has been nagging at me to get it started. 
I picked up this old Craftsman hip-roof toolbox in a junk pile a few weeks ago for about a buck. As the pictures show, it is rusted and filthy as all get out. I have been looking for a smaller toolbox and this one looked old school and super cool, with a gray metallic hammered enamel finish.
I figured if it has any value, fix it up and sell it. If it doesn't have any value, fix it up and use it! So, I did some research and found that the "crown" logo was introduced in 1960 and was used on into the 70's.
The finish was advertised in the Craftsman Hand Tools catalogs of the 50's as "gray Hammerloid". They originally came with an aluminum handle. In the 60's, they switched to a "Plastisol coated" steel handle. This model, apparently from the early 70's, came with a "heavy duty" (i.e. plastic) handle.
They retailed originally for $5.99 in the 50's and this model was $8.99. They are selling on eBay currently between $15 and $50 in varying conditions. With the amount of time and effort that will go into restoring this, I can't say if that means it "has value" or not. We shall see.
So, anyway, I started off by drilling out the rivets and removing as many parts as I could. The big, heavy duty piano hinge on the back is tacked in place and can not be easily removed, so I will have to work around (and through) that.
I then went after every inch of the inside and outside with a steel wire brush. An hour or so of scrubbing reaped the following rewards:
Lots of weight reduction there! Not actually as much as I was expecting, but still a big accomplishment, one little flake at a time.
In the next part I will be sanding it down to bare metal and hopefully even getting some primer on it.
Update: Part 2 is now online.