(De-con)Structo Loom

Finally got a bug to get this loom cleaned up. 

It's a Structo tabletop loom. 

I have independent legs for it as well. It has a number imprinted in the wood of the castle:

It appears to be the same "font" as the metal treadle plate. 

It has been bathed in Murphy's Oil Soap and I'm getting ready to oil all of the various metal parts & pieces. 

My biggest concern at this point is cleaning the reed and the heddles. I have wiped the reed with some naval jelly and I'm thinking about removing all of the rusty heddles and just keeping the clean ones until I can order more. 

I would love to hear your suggestions!