Advice on rebuilding old Raleigh Olympus

Having been home over Christmas to Devon I came across my father's old Raleigh Olympus in the back garden, covered in snow and rusting badly. Feeling sorry for it I have dragged it back to London and now want to convert it to a single speed for commuting (rather than using my Specialized Tarmac and denting my rims on the censored London roads).
Has anyone completed a similar project? I have had to remove the rims as they were rusted through. The seatpost is in a bad way too and is currently being inched out. I'd also like to replace the handlebars and headset. Finally I have no idea how to remove the cranks and bottom bracket on such an old model (it's the 1971 world championship edition - 5 speed cassette).
Any advice or links would be greatly appreciated. I've had a search on Sheldon Brown but it hasn't revealed much - that just may be my amateur understanding though.
Has anyone completed a similar project? I have had to remove the rims as they were rusted through. The seatpost is in a bad way too and is currently being inched out. I'd also like to replace the handlebars and headset. Finally I have no idea how to remove the cranks and bottom bracket on such an old model (it's the 1971 world championship edition - 5 speed cassette).
Any advice or links would be greatly appreciated. I've had a search on Sheldon Brown but it hasn't revealed much - that just may be my amateur understanding though.
Specialized Tarmac Ultegra
Felt RXC1
Ridgeback Velocity
Felt RXC1
Ridgeback Velocity
0
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http://othelios.pinkbike.com/album/Raleigh-fixie/
He seems to have done what you are intended to do...
Have fun!
Frame hasn't rusted through anywhere - looks in good pretty good shape. It's mainly the components that have taken a battering.
Felt RXC1
Ridgeback Velocity
Depends if you really want to keep it.
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