If you aren't into the patina look but you are not ready to paint just yet, that red will buff out to a beautiful shine. Meguiars Heavy cut cleaner applied with a small foam Velcro-backed buffing pad on a DA sander will cut the oxidation. Follow that with Meguiars Swirl reducer on a different foam pad on the DA and finally a coat of wax. That paint will look new. I took that approach with my pig. Now it is shiny with lots of dents and rust...kind of a clean/rough combo. Using that formula I was able to take the original paint on my 55 from this:
To this:
It's not perfect. It's beat-up and shiny though.
To this:
It's not perfect. It's beat-up and shiny though.