I finally got the rear fender as cleaned up as it's going to get. It polished up fairly well on the outside, especially once I got the reflector off, but I could only do so much with the heavily rusted inside. I decided not to worry about its little dings -- mostly not noticeable unless you're looking closely -- but did some hand-straightening of the supports and they look much better. I got the reflector off with an adjustable wrench; I think the bolt's not metric, although possibly I just wasn't getting the right angle with a regular one. It had quite a bit of guck trapped under it, so I got rid of that and hit the fender with some more polish. Washing the reflector itself got some water in under the cover, but that popped out and I took the rust remover to the cavity underneath. After some fiddling, I realized the bit of white paper under the cover was the real reflective bit, so since it had gotten wet on top of its rust stains I replaced it with a disk of reflective tape.
Then I had another look at the rear wheel and its fancy hub. Apparently I need a drift punch to remove a ring before I can get into the gear itself, so I'll have to take that down to WNR and use my volunteer privileges to borrow one. Maybe I should make myself a big canvas bag for carrying wheels around.
On the wheel subject: I got the front wheel cleaned up and put back together. Turns out the cotton twill rim tape isn't that odd, just higher-quality than today's normal. When I got to Deschutes and asked for rim tape, they asked if it was for a single-walled or double-walled rim. For double-walled rims you need better tape, for single you can get away with what's basically a big rubber band. I told them it's an older steel rim and guessed it might be double-walled since there are holes in the inside. They told me steel rims are always single-walled and I'd be fine with rubber.
A later web search offered a number of other suggestions, including several layers of electrical tape or strapping tape, but I suspect these would turn out to be more expensive than the rubber (mine was just over $3) as well as needing to be repaired/replaced more often.
Foiled in that direction, I stared on removing the cranks to see if I can clean and service the bottom bracket. There's a weird sideways bolt thing happening there; I got the nut off but can't see how the bolt comes off (if it even does). The head is round so apparently it doesn't unscrew, but tapping it with a rubber mallet didn't (appear to) loosen it. So guess I'll have to consult David-the-Bike-Guru at the end of my next volunteer shift, unless I discover something useful before then.