Auminum oxide ranks near the top of the list in terms of hardness (8.5, as I recall) and cutting power. In a blast cabinet, the stuff will quickly frost the glass and is brutal on blast gun parts. Used with care (and low pressure) it can give good results on steel pieces. In my experience, however, the surfaces will be profiled; in other words, it's a bit too aggressive. I define that term as anything beyond the minimum needed to clean the metal. With a sheetmetal frame, there isn't much material thickness in the first place. A commercial outfit that can do this job for $50 is using equipment large enough to do the complete job in under 10 minutes. I long ago gave up on such outfits, got tired of being able to file fingernails on the freshly-blasted surfaces. Not saying that fresh paint won't hold, the rough-textured/thoroughly clean metal should "soak-up" a lot of primer. IMO, it's hunting small game with an elephant gun. Anyone who takes a CT70 frame with any significant rust to one of these places will quickly learn what I mean the hard way
As for softer items, such as the hubs, $10-15 a pop will get them done properly using softer media such as glass bead, with a low pressure/volume gun. Using stel wool must have been one helluva workout(!)