Stuck seatpost orange clockwork

That's a very nice looking Clockwork, you'd be hard pushed to get a better bike for £90 :!:
I hope you enjoy riding it again :D.
 
heat will remove that seat post. heat it up, not too hot, above 100c about 150c then cool it with a hose pipe rapidly. If you heat it too much and cool it too quickly you will end up case hardening the frame and you dont want that. Its all about expansion and contraction and breaking the joint that the corrosion has caused. It'll come out easily.
The best way to stop it happening again or on a post that is still ok is to put some grease on your finger and carfully pass it down the frame tube past the clamp bolt section without touching the clamp bolt part of the frame. Insert post in to frame and screw round.
Now you have a grease coated inner tube and post blow the level of the clamp which is the only part that actually matters when it comes to fixing.
No more stuck posts.

As far as the rusty bearing cup gos. The nickle or chrome plating has failed. that will always go rusty again as the bare steel is exposed to the atmosphere (oxygen) Replacement or painting is the only option.
 
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