I found this to be a very thorough Electrolysis explanation. I haven't gone to the extreme of regulating the electricity.
http://www.galootcentral.com/modules.php?name=Web_Links&l_op=visit&lid=490
I don't restore for collecting, just user tools.
After nearly a hundred dips in the bath, here are a few tips.
1. remove any kind of grease/oil/wax/paint thinner.
Use any one of a number of degreasers. Turns out a light oil coating seems to mess up the process.
2. baking soda works ok, I haven't been able to find laundry powder
3. do not submerge the anode rod battery charger clamp. I found out the hard way, that makes the clamp the new annode.
4. a light spritz of denatured alchohol is a good way to get a quick dry
5. rinse and scrub the tool after the bath under running water. I've moved to my back yard garden hose.
6. you can chain small parts together with a little wire. i use this for the screws and little bits
7. This might be obvious, but took me a while to realize. Don't spend a lot of effort derusting parts that you will be grinding/flatening. The sole of the plane, back of the iron come to mind. You are going to be taking off lots of that metal anyway.
8. I like to shellac parts. Like the lever cap, frog etc. I usually add a coat of paste wax on top of the shellac. Seems to offer a good bit of protection for exposed metal.
Video Tips: Ernie Carver's restoring a handplane. Frank Klauz Hand Tools.
Thanks,
Jim