I suppose an update is in order. Right now I have most of the grime and nastiness off the inside of the kettle. It is still quite solid, but the rust around the grate straps was worst than I hoped. While removing some it I made a small hole under one grate strap. Not very noticeable unless you are looking, but enough of a warning sign to tell me that I just need to focus on getting any more loose rust off and just treat it with oil and heat. I thought about welding new tabs where two were falling off, but I think I am just going to let the grate rest on there as is. It will still lay in there just fine. The outside has been cleaned up a bit and some of the old paint rubbed off just fine, but it will take a lot of elbow grease if I stick to steel wool. I am going to look into getting some graffiti remover and start working on it this weekend. I didn't show the inside of the lid, but it cleaned up fairly well and only showed signs of rusting around the handle and a few random spots.
This grill will still be a looker, but very much of a cooker given that she isn't going to be show room quality. I will probably use it when I am just making a meal for two or if I want to grill some sides at a gathering and just want a cool conversation piece. I can't wait to get it hot and see some more color!