Whoa, Pilgrim!!  Looks like you got your work cut out.  Got it all tore down to the frame, I see.  Some people have told me about Coca Cola being used to remove rust, but the best way I can think of is to have a bench grinder equipped with a wire wheel.  That's your best bet.  Be sure to get you some safety glasses  because you don't want one of those wires to end up sticking in your eye.  Did you in any way remove the typebars from their segments?  Did you undo any of the big bolts underneath?  DO NOT TOUCH THEM!!!  The typebars are individually adjusted.  I remember trying to adjust two or three and liked to never got it straight.  Leave that part alone except to clean and oil it.  Leave the type bars in the slots.  You are fortunate that all the levers to the type bars are the spring snap-type.  I'll come by this thread to see how you're getting along.  I've had some expereience repairing these machines, and if there should be anything to crop up, I'll simulate a problem with one of my own L. C. Smith typewriters.

Like you did with the levers, only more gently--especially on the type faces.  On a machine this old, you're going to have missing plating, as do a lot of typewriters half this age.  Just clean 'em up real good, and thank goodness you haven't taken the typebars out of their slots--it would be a sheer headache and a half just getting two or three--let alone all 42 of them, aligned together.

Is the ribbon going the proper direction.  Last I checked, the takeup on the left side is clockwise and when it is on the right, counterclockwise.  This is something that hangs me up the most on these machines.  Other than that, make sure your gears are properly meshed and the top is properly aligned.