I actually just finished it up, just got busy last night and never got around to posting the after pictures..............it took me a little over two weeks in my spare time to get it done
I began by tearing it apart, removing all grease, then removing old paint and derusting the entire thing. The hoist has 5 oil zerks which were full of grease. I cleaned all that out by heating the felt bushings that contain the oil to keep the main spindle oiled. I did have to replace some nuts and bolts due to being bent or worn threads. Any bolts I replaced was with hardened bolts. After stripping it, I put on a coat of primer, repainted it, regressed the gears and re-oiled the main shaft, put it all back together. For the chains I soaked them in muriatic acid to remove rust then repainted them. I think I had around $20 in supplies put into the thing. So total cost was just under $50 to refurbish this thing. I’ve attached after photos. BTW, nothing was broken other than some bots and nuts needed replaced and it’s back in working order.