Yup, I just ordered new shocks and will paint them as needed.
Day 17 update:
Spent this evening taking apart the seat in preparation for new vinyl. As you may recall, the vinyl cover on this bike is brown, which is not desirable for my build (black is the target). The vinyl is in really good shape, however, and I don't want to just pitch it. So I carefully took it off tonight and made sure not to add any damage to it. During the strip-down of the seat, I noticed that quite a few of the metal spikes that hold the vinyl in place were completely corroded. Particularly along the side of the seat with the hinge. Some were so bad they completely crumbled in my hands as I was wiggling off the vinyl. I managed to extricate the cover without any problems, although it's apparent now that I'm going to have to do some kind of modification to restore the edge that is really gone. Blasting and painting can't correct for something that doesn't exist anymore!
The foam is still excellent, without any tears, gouges, holes, or other missing bits. It felt comfortable enough for me when I first test rode the bike, so I think I'll just re-use it after cleaning it up a bit (it has rust stains in quite a few places). The seat pan looks solid aside from the edges that have corroded. So I'll first blast the whole thing to bare metal and evaluate where it's at. Maybe it'll be possible to cut out the corroded/thinned area and weld in a new strip. I suspect no place sells just a replacement (stock) pan? That would be swell if they did. The replacement black vinyl cover and strap arrived today, so I'm good to go there. The strap holders/screws were also heavily corroded, so I'll have to do some repairing there, as well. More stuff to send off to get stripped and re-plated.