Thanks for the comments, and lo and behold, I'm making a timely post.
I got some more goodies in the mail over the past couple of days.
Some nice old school red sparkle grips and a Mexican blanket or as they call them in Mexico, a blanket. I'm going to try my hand at upholstery, or at least gluing a piece of cloth to a seat pan.
I also just wasn't feeling the nice black paint, it just didn't feel "rat rod" enough. So I plugged in the angle grinder with a wire wheel and went to work. Fifteen minutes later it was time to put it all back together and admire my work.
Because of the red primer, yellow paint, red primer, black paint layering There's some cool splashes of color mixed in with the bare metal. This weekend I plan to finish it off with some steel wool and top it off with a clear coat.
I am very pleased with how this turned out, it has more of the look I think of when I think rat rods and because I plan on riding it a lot, I won't be worried about scratching the paint because there's so little of it. Since my husband is now staying home with our son, I've used that as an excuse to bike to and from work so I'm doing at least 7 miles a day on my 63 Schwinn Racer, I hope to get this bike finished before I leave for OTS so that I can put some mileage on it while still in Denton, or Texas for that matter.