Lightly glass bead blast them.
Charles
Concur.
I have 'refinished' quite a few miscellaneous wrenches, pliers, hammers, punches, etc., which are of the old high quality makes.
'Gentle' glass-blasting will bring the steel to clean metal. For such as high quality old unplated 'industrial grade' wrenches, if not actually seriously rust-pitted, a bit of polishing-out on a Cratex wheel, followed by 're-blacking' with Brownells 'Oxpho' (a copper-black sold as cold gun blue) will make them look 'as new' if not a little better.
After blacking them with the Oxpho, lightly burnish with ultra-fine steel-wool, and apply a thin coat of spray-can clear varnish.
(several of the major tool makers who supplied 'industrial finish' tools used a clear varnish to protect their tools from rusting in shipment......this will be especially noticeable on the rare 'new-old-stock' Plomb and New Britain wrenches, socket tools, etc., you may find. The varnish wears off in use, of course....just keep them oiled, and they will serve their purpose indefinitely, if not abused.
Yes, I know, this may seem 'a bit much' just to salvage old small tools....but....a 'refinished' wrench of any of the good makes will do the same job, and do it just as well, as the shiniest of expensive new Snap-on wrenches.
Chrome-plated tools with rust spots in the platiing can be made useful in much the same way, by polishing out the rough spots in the plating.....the little bare spots in the plating won't 'look pretty', but the tool still turns the fastener just the same.....it all depends on one's 'aesthetic' needs, I suppose....for me, a 50cts. or $1 flea market/garage sale wrench, if of a good make, is worth the five minutes of work to make it serviceable, which seems a good bit more cost-effective than just purchasing a $50 Snap-on wrench.
cheers
Carla