Steven,
When I did the annual after I bought my 150L, I knew there was a little white corrosion in the cabin and very little in the wings or tail. But, out of shear stubborness, I took everything out of it and hand scrubbed and cleaned everything by hand with oilbased solvent. And I mean everywhere, removing all of the old rivets and drill bits that Cessna left and the 1/4 thick gook and dirt in the bottom of the belly and tail cone. All of the old insulation had held a lot of moisture and didn't help. I Corrosion-X'ed everything and ended up putting new insulation into it. I sprayed the wings also and I swear it still seems to be weeping out of them six onths later. Unless you have really bad black pitting or thick flaking going on here, you don't have much to be concerned about that Corrosion-X or AP-50 can't knock down. The stuff isn't cheap, but buy enough to do everything thoroughly and be prepared to smell real bad for a day or so. Sound like your airplane is going to be a lot of fun!
Bob Martilla
'71L