Mike, the straight hand rails are correct. I have had good success cleaning up frames that are mottled with shallow rust like this. Take everything off -- handrail stanchions, trucks, motor and e-unit. Spray the entire frame with liquid wrench or soak it. Let is sit about 2 to 3 days. If you use the spray, re-spray it every time you walk by it -- maybe 2 to 4 times per day to keep it real wet. Then work it over with a stiff brush (not a wire one, but a very stiff bristled cleaning brush). Then flush away all the slime with Dawn and hot water. If it looks good enough you are done and ready for final step. If it is still rough, wipe it with the Marvel Mystery Oil (I know it sounds like I sell the stuff, but I don't -- it just works and it is hard to argue with success). Now, with the light coat on it, buff it with the end of a Dremel brush on the lowest speed setting. The brush you want to use will be steel (not the stainless one, for it is too stiff) -- the brush looks like a miniature floor scrubber and that is how you use it. Just follow a slow back and forth and up and down pattern, criss crossing as needed, and the oily film will turn reddish as the rust is removed. Work on the top, bottom, sides, and the handrails as needed -- only as needed -- do not over do it. When complete, the rusted areas will feel smooth when you rub your finger over them. Now wipe away all of the oil with a paper towel.
Now, whether you had to continue with the MM Oil or if you were done after the Dawn wash, you are ready for the final steps. Use a bluing pen if needed on any shiny spots. If you were careful , you will normally not have any. Oil those spots and buff lightly by hand to even the finish. Then spray it liberally with WD-40 or other silicone product. This is a flushing and rinsing steps, so use it heavily. Then use absorbent cloth or paper towel to wipe away all excess WD-40. Use Q tips in the corners and tight spots. Use compressed air if needed also. Keep wiping to a uniform finish.
This method has recovered many of the evenly and lightly oxidized frames that I have worked on.
Some notes: I use the spray solvents over a deep sink and I run a heavy flow of hot water as the excess solvents flow to the sink. The environmentalists will be flipping out, so if that bothers you, then use a proper catch pan and disposal method.
While the frame is soaking, you can work on any needed cleaning and repairs of the shell, motor and e-unit. Then all will come together quickly at the end.