Quoted from BubbaK:
I'm used to drilling out rusty bolts at work, so drilling and tapping a 3/8 bolt is no big deal for me. I don't think I saw anyone using Naval Jelly for the rust? I've done 2 sets of legs with it and for something I expected to be painting came out close enough that with a coat of wax, they look pretty good. I brush it on with a parts cleaning brush, let it sit for a while and rinse it off. One set I did 2x to remove some heavy rust on the inside of the legs.
Naval Jelly is all I used until I tried evaporust. I still use it though for larger parts that I can’t submerse. It’s intense stuff!