Time for an update.
I cleaned up the lower triple clamp and applied Rub N Buff. Looks brand new!
Rub N' Buffed:
Then I replaced the steering stem bearings. Getting the races out was a pain, but they finally came loose. I slathered the new bearings in this great stuff:
While pressing the inner race down onto the steering stem, I must've pushed in a wrong direction and suddenly I had an empty bearing cage and 21 little tapered rollers rolling all around my garage. I was discouraged, but determined to fix it.
This is going to require some moral support:
Got it back together and started assembling the triple clamps and forks.
I plan to clean or replace the triple clamp top nut. It looks pretty bad, I may need to replace it. I'm very happy with everything else though - it's starting to look pretty good!