"Bizarre" was my initial reaction as well. The 'soup' developed a slurry that clung to the pieces, especially the 16 gear selection component, which appeared permanently adhered by deep-seated rust. I was deeply skeptical but, sure enough, as we power washed, the gears fell loose on the shafts. STOP!
My project friend went into his shop and returned with two coat hangers, clipped them open and ran them through the centers as the gears wheedled from the two shafts. Of course, some gear teeth were seriously pitted but after wire and buffing, all was well.
The most important ingredient in molasses de-rusting is patience. We all have small bottles of Naval jelly but when faced with large, heavy objects, molasses is the cheap way to proceed. Besides, the shop is adrift in a lovely, sweet bouquet for the duration of the wait.
I was told that one old timer built himself a great vat, lined it with a tarp, mixed the molasses and water and put in a 1933 Ford rear truck dumping pan that had been 'in a field' for 60 years...He left it percolating for two months.
Warning
If anybody tries this, be certain to oil or paint all parts immediately as a film of rust will rapidly appear as soon as the parts are removed from the solution. I'll have one of my grandchildren get a photograph of the lathe to you. Best, Robert