Coffee table restoration questions

[poweribo]

Note: I'm complete newbie on furniture restoration and I've just decided I'm picking this up as a hobby this year so pls bear with me while I bombard you guys with questions. 

Bought this table at a thrift shop as my first restoration project. The table has no loose legs and feels very sturdy and it is one heavy coffee table. I feel I can dance on top of this table without damaging it.

At closer inspection, it looked like more complicated that I've expected. My first concern is, should I remove all the nuts, bolts and brackets before doing any work?
Those things doesnt look easy to remove:

This is the top view. These circular metals is few millimeter higher than the wood surface. Is this like large nail head or something?.
Also can anyone pls tell me what kind of wood is this?

 

Corner view. Missing nails

Loose bracket/nails. Should I replace this nail with a screw instead? I feel this bracket is just decorative (going for that rustic look I guess) and doesnt really add any substantial support. Pls correct me if I'm wrong.

Under side. Nuts and Washers? No joints? so crude!

Cracks

More cracks. About these irregular stains: Is this because there was an original finish that was stripped before?

 

My Plan:

I want to retain the natural look and bring out the beautiful wood grain patterns so here's what I have in mind:

* If possible, remove metal parts and dip it into phosphoric acid to remove rust. Maybe paint it with black paint.
* Sand the surface a little bit to remove the dirt, grime, scratches and etc. (those metal stubs on top is gonna be on the way)
* Fill the cracks with clear epoxy (which one, I dont have any idea yet)
* Finish with a wood polish like this: http://www.howardproducts.com/prod-feed-n-wax.php (wax + oil)
* Put back metal parts

I welcome a better plan or any kind of suggestion.
 

[mat60]

Yes remove everything ..You could try a small flat bar or whatever you have to get under the nails .Replace nails..I must say this is not something  we see every day...

[Brendon_t]

Epoxy, many here use and like the west systems epoxy system. I use 105/206.

As far as the dirt and grime,  it look like the grime and patina is what is giving the table it's character.  I would be light handed when sanding and remove things evenly.  If you blast the table back to raw wood,and leave the base alone,   the base may look dirty rather than keeping character. 

I would definately start by tearing it down to parts but that's me and I often look back and say. .. "oops.. shouldn't have done that"

[mat60]

42 minutes ago, Brendon_t said:

42 minutes ago, Brendon_t said:

Epoxy, many here use and like the west systems epoxy system. I use 105/206.

As far as the dirt and grime,  it look like the grime and patina is what is giving the table it's character.  I would be light handed when sanding and remove things evenly.  If you blast the table back to raw wood,and leave the base alone,   the base may look dirty rather than keeping character. 

I would definately start by tearing it down to parts but that's me and I often look back and say. .. "oops.. shouldn't have done that"

Epoxy, many here use and like the west systems epoxy system. I use 105/206.

As far as the dirt and grime,  it look like the grime and patina is what is giving the table it's character.  I would be light handed when sanding and remove things evenly.  If you blast the table back to raw wood,and leave the base alone,   the base may look dirty rather than keeping character. 

I would definately start by tearing it down to parts but that's me and I often look back and say. .. "oops.. shouldn't have done that"

I think you have done this kind of work before.Cool.There is allot to it ..New is easy.

[Lee Bussy]

I'm going through a remediation myself.  There's a book, which includes a nice DVD, that I heartily recommend:

Refinishing Furniture Made Simple by Jeff Jewitt

For ~$15 shipped, this book may be the smallest investment you will make.  He shows various levels of restoration from soap and water through a full refinish.  

For you it will all boil down to a short yet not very simple question:  To what degree will you restore this table?  You can tighten what's there and wash it up, or you can rebuild the table - and everything in between.  You want to do the least necessary to make this a viable piece of furniture and it will ultimately end up telling you what it needs.