Wow... sorry it's been a month since I replied to say thank you for the advice (@ Mechagouki).
I have finally started and the bike is pretty much completely stripped (bar the crank, which I have had to buy the right tool to remove this. Surprisingly, everything else came off very easily. I was expecting the stem and seat post to cause some distress to my muscles and brain, but they didn't?
I have started cleaning the XT rear mech (jeez.... it takes a whole lot longer than you ever think!!) and it is coming up ok. There are some deep scratches where the Deore XT is worded, but this will all add to it's 'character' right?
Front Mech... same as the rear, coming along nicely but some 'pitting' in the metal finish that may have to stay. Will take to it with some light wet and dry sand paper and see how it goes.
The front weel was next. Don't ask... my hands are hurting and it still looks dirty.
T-Cut on the bars and Stem have made them come up really well. Honestly shocked at the results? They both had surface rust... but now that has dissapeared (you beauty). I really thought a new stem would be needed... but now I have made it my mission to try and not buy anything new for the bike, other than cables.
So this weekend will be the rear wheel, some more work on the derailleurs and some thought on the saddle. The saddle is very ugly (was once white - now just dirty!). I am going to experiment on the saddle with leather/upholstery cleaner/scrub, dubbing, pressure hose at work etc etc and if I break it.... I have an old Bontrager saddle I can substitute in.
Hopefully I can get some pictures up over the weekend of the frame and forks in the sunlight (sorry - my previous photo's really are rubbish aren't they!).