What is the proper way to restore whats left of this assembly? (2nd pic)
Thx!
That could be an open-ended question...
One restorer's position is to carefully drill out the shoulder rivet to separate the two components, technically three if you wish to count the swivel at the other end.
Include the block bar and attached block bar link in with other parts to be zinc plated. The bottle gate can be wire wheel cleaned/polished and buffed to nearly chrome finish and left as is to naturally color age back to gray Or clear coat to retain the nice polished finish.
Hopefully helpful...