Just a $4 plane...

[bandit571]

That was found at a garage sale..
 

   
"V" Line plane from the late 1950s...
Decided to clean it up, and see how it works...
 

   
Took it apart, usual spider nest under the frog.   Bolts for the handles needed assisted with a pair of visegrips...threads needed cleaned up.  cleaned the rest of the bolts and the wheel..

   
Set these aside.   Lever cap had a spot of rust on the underside, where it rested on the chipbreaker.   At least the iron was right-side up, instead of the usual chipbreaker sitting ON the bevel...
....Cleaned the inside of the base casting...had that gray paint on the flats the frog rested on.    I also sanded the face of the frog, and the seats on it...more paint. 
 

   
Lateral lever was sticky. a drop of 3in1 oil, and move the lever back and forth, until it will inded move.   Wire wheel to clean some threads of rust and crud.   Then a drop of oil on the threads...

Part one,   stay tuned for Part 2..

[bandit571]

Part 2.   Having cleaned under the hood, time to work on the outsides..
[attachment=11115]
Sanded the sides clean.   Since this ain't a shooting plane, not worried about the mythical 90 degrees  side to sole thing..
[attachment=11115]
Looks a bit better?
  Speaking of the sole....It was already fairly flat...
 
[attachment=11117]
Beltsander and a mill file to get it looking like this....time to reassemble this thing..
[attachment=11118]
Right behind the mouth on this plane, there is a small ramp and a spot for the frog to rest on.   I made sure the frog was 90 degrees to the opening, and was flush with the ramp. 
[attachment=11119]
First test drive,,,showed the iron had a few small nicks in the edge....will cover that in ...
Part 3..stay tuned...

[bandit571]

Ok, I had two irons to sharpen up....one from a Millers Falls No. 14 ( a $1.35 Jack plane) and this "Solid Tool Steel" iron...

Careful grinding to redo the bevel....and get rid of a few nicks.   Backs were flattened, right on the side of the grinder's wheel.   BIG cup of water sitting right beside the grinder..

Once that was done, I set up a honing guide, at 25 degrees..
 
[attachment=11122]
Coarse stone, a 600 grit medium India stone, a 1000  grit wet or dry paper, then a 2000 grit one.....followed by  the leather strop.   Installed the irons to their chipbreakers...the No. 900 one needed polished.   Test drive #2
 
[attachment=11123]

On some Pine scrap.   How about a bit of Ash scrap, as well?
 
[attachment=11124]
Just a $4 plane.   May keep it around...

[blackhat]

Anything like that around here would have another zero in the price. It's old so it's got to be worth lots.

[Admiral]

That one was the MF version of the Stanley Handyman; and while the Handyman was way subpar, the MF version can be made quite usable, as you have shown.