I have had good results using Lightning Strip Rust Remover. It is a methylene chloride based stripper, per the MSDS. $37.50 a gallon and $15.00 shipping. It is not cheap, but it works well.
It took less than 15 minutes for the rust to pretty much melt away on a pair of unpainted legs. Rinse in water to stop the action, then steel wool and wax. Website states for heavily pitted areas, it could take as long as an hour. I used wallpaper trays - one for soaking the legs in the solution and another with water for rinsing the legs when done. I left some rusty chrome pieces from an old medicine cabinet in the solution overnight, and the plating pretty much disintegrated, so I don't think it is meant for extended soaking.
http://www.lightningstrip.us/rustitems.htm
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