In certain cases, the bead blasting will be the best choice (if done properly).
I acquired a Saito 80 that was nearly new inside, yet from sitting in a damp location was very coroded and pitted on the exterior and the chrome was peeling off of the rocker covers.
After a thorough bead blasting (with everything dissassembled and blocked off as I suggested above) the engine looks great.
Its definitely not the solution for everyone, but when you have surface "damage" (like the severe aluminum oxidation, or marking up, etc) it does the trick well.
AJC