You have to wonder why the rust is there. Under normal conditions where the audio components are stored in a dry place there would be not rust so I would have to question the environment these components were kept. I recommend removing everything you can, clean all of the rust off the cabinets and metal pieces then repaint them. 

In answer to your question though, the rusty cabinet itself isn't dangerous.

-sonavor

sonavor wrote:

You have to wonder why the rust is there. Under normal conditions where the audio components are stored in a dry place there would be not rust so I would have to question the environment these components were kept. I recommend removing everything you can, clean all of the rust off the cabinets and metal pieces then repaint them. In answer to your question though, the rusty cabinet itself isn't dangerous.

-sonavor

The best way would to disassemble the electronics from the chassis/frame. Take lots of photos so you know how things plugged in. You might label connectors on cables.

on the rusty metal pieces the best thing is to sand away all of the rust then clean it really good to remove any sanding residue. After that paint it to seal it back up. If you want to be really professional you can paint it with primer first.

On small pieces like screws, nuts, washers you can clean them up with something like a link or replace the hardware with new screws.

Inspect all of the electronics. They shouldn't have any rust but might need cleaning with some isopropyl or denatured alcohol. Switches will need cleaning. I would use some

You definitely need to clean it, once clean it should be fine although there does seem to be a black spot on the board, not sure what that is. 

For all connectors, switches and potentiometers I can honestly recommend Valvoline Contact Cleaner. I have just finished an project with it and all problems have gone.

Peter wrote:

For all connectors, switches and potentiometers I can honestly recommend Valvoline Contact Cleaner. I have just finished an project with it and all problems have gone.

sonavor wrote:

The best way would to disassemble the electronics from the chassis/frame. Take lots of photos so you know how things plugged in. You might label connectors on cables. on the rusty metal pieces the best thing is to sand away all of the rust then clean it really good to remove any sanding residue. After that paint it to seal it back up. If you want to be really professional you can paint it with primer first. On small pieces like screws, nuts, washers you can clean them up with something like a rust neutralizer or replace the hardware with new screws. Inspect all of the electronics. They shouldn't have any rust but might need cleaning with some isopropyl or denatured alcohol. Switches will need cleaning. I would use some Deoxit .

I hope that information helps.

-sonavor

Yes, the inside looks remarkably good compared to the corrosion on the cabinet and frame. 

-sonavor