Gordon, Thanks for the pictures. As far as the wood being oil soaked? I would take a small piece of sandpaper and sand a very small area to see if it is from oil, if lightly sanding the wood takes it off then it is not oil soaked but just stained from the years.
As for the ejector guide stem, should be an easy fix, I believe they are pressed in.
The spots that are rusted on the side plate, take some blackboard chalk to those areas and see if that works.