Hey ATS using the wire wheel is exactly what I did.
I'd restore it, take wire brush and get all the rust off. Then soak it in some vinegar and baking soda. (taping up the lid vent and using the lid works well for this)
Do some more scrubbing with steel wool or a brillow pad.
Then rub the whole grate down with some bacon grease.
I was afraid of it not holding up either, but after a couple of pork butt smokes it's done really well. I then made the mistake of using the vortex and had to do another pork butt smoke, but it's held up really well.
Just my two cents, but I like having the original grate, and it's cheaper than buying a new one.