thanks for the great feedback ....
1. Ideal Restore: fresh paint is my least favorite. Except for the base I see what I think is black paint, so my ideal restore would be original paint even if some areas are bare metal, next best restore is go down to bare metal and, like "drivesitfar" said, a cast-iron skillet look. If the latter would paste-wax coating prevent further rust?
2. I will explore the link to the vise thread.
3. Remove tag: "Cobbler" was right, there are thru holes (see pic). Oddly they look like brass head on the outside and steel nails on the inside. Knowing how hard it is to drill holes in cast iron I suspect they hammered those in without pre-drilling. Ideally they will come out without mangling and I could put originals back in.
4. Evaporust or electrolysis: I am thinking one of these is the way to go, especially if there is salvageable paint under the rust.