I use it on custom built motorcycles over winter. It's superb. I just spray it onto a rag and give everything the"oily rag" treatment. Please, please, do not think this is like wd40. It's not.
I may even have some ACF 50 in the garage. I've used it on scooters because it can flow around inside the bodywork. The corrosion is unfortunately under the lacquer/anodising. I don't need the bike to be as new but I don't want it to deteriorate further.
I had a Merlin frame with the same issue. As it was welded (not glued) we dipped it in paint stripper tank. All the lacquer came off and we then repolished it. It takes some time and effort to get an even polish! Then I just oily ragged it when washed or when I remembered. The biggest issue was putting the bike in the car! It's a bit like a very thin coating of baby oil...