Gosh, that does sound like a lot of work and things to buy!
I did read this a long time ago, but I just didn't remember to reply!
I did it myself though, with a jet wash on the metal bits with the fairings off, with shampoo and elbow grease. Used a rust remover gel to get rid of rust on the silencer pipe.
And then wiped it with poundland wipes and then GT85 to give it a shine. For now...
Its nowhere near showroom condition, but its halfway there I reckon. I need wax and a de-greaser for it to work. But ££ is a bit problem for me atm, so I'll have to wait.