Help Please on my 89 240 Gl

Im trying to get this car going well. In inspecting the engine, alot of the
metal parts have a rust color/whitish grey color to them. Is there any
solution i can use to get rid of that deteriation? The engine is running
very well. I plan on modifying some things for more power but mostly
concerned in cleaning things up in there. Im replacing or just cleaning all
of the rubber tubing and all, replacing some of the wiring that may be
frayed or not have a secure plastic coating. My main problem is that growth
ont he metal parts!!!

thanks

Pete