I'm in the process of stripping some of the woodwork in our house, and on a whim last night I decided to try some of the chemical stripper on the fork of a single-speed I'm building up. Low and behold, it works like a charm!
I'm using Kleen-Strip Premium (the color-changing stuff, though all of their Premium line is comparable in performance in my experience). It's $27 at Home Depot for a gallon...I'm just getting started, but it seems like a gallon would be enough to do 2 or 3 frames.
I'm just painting the stuff on, waiting the 15 or so minutes for the paint to bubble up, and then scrubbing it off with a stiff wire brush. I've got a jar of denatured alcohol to rinse the brush out in as it gets clogged, and then I'm doing a final scrub with grade 1 steel wool (grade 0 would probably be better, but Home Depot didn't have any last night) soaked in alcohol to remove the stripper residue and any remaining loose paint. I've only done the fork so far, but all it needs now is a final sanding with fine steel wool before primer/paint.
I've also tried some of the Bix brand stripper...doesn't seem to work so well (it costs about half as much as the better Kleen-Strip stuff and I've generally found it to be junk so I'm not surprised it doesn't work well here). I've got some of the “less hazardous” chemical strippers as well (Citri-Strip & Peel Away 6). I'll give those a try and report back.
Anyway, I'm just surprised at how well this is working and figured it was worth throwing out there. It seems faster/easier/more cost-effect compared to sand-blasting.
Has anyone else tried this?