There are several different methods and degrees of plane “restoration”. Based on the photos, I would treat this as just bringing a cheaper quality plane to the condition for using it for rough work. Based on that, it would only need a “ruler straight” sole, a cambered blade, and a wide open mouth. I know that there are several ways to remove rust but don’t discount just using wire brush wheels and abrasive paper. A lot of “purists” would cringe at the idea but you aren’t talking about a museum piece in this case. If you do use the plane for rough work you don’t need to worry as much about getting a pristine edge and minor pitting in the blade wouldn’t be a big issue since you will probably be going over the work with finer planes or are leaving the rough finish in areas of the work that would normally be hidden from view (drawer bottoms, cabinet backs, or similar).
As Neil suggests, there are lots of good videos on plane restoration but I would not be concerned about “super-tuning” this tool like you would a high end smoother, just a scrub or fore plane level rework which is much simpler and less detailed.