My two cents:
(A) Cleaning - Taking what you said about the rust and lack of seasoning at face value, I would use steel wool to clean it up as much as possible, being sure to get rid of the light rust. Then, I would run it through a self-cleaning cycle in a self-cleaning oven, being sure to wipe away any residue when that process ends.
(B) Seasoning - I would avoid bacon grease, as it tends to go rancid. I would heat the skillet in a 200 deg. oven and then, using a lint-free rag, rub an extremely thin layer of melted shortening over the entire surface, inside and out.
Then, I would place the skillet, upside down, in a 425 degree oven for an hour and a half. (Best done in a commercial oven with a powerful hood running. If at home, open all the windows and run a big fan, as this creates a bunch of noxious smoke.)
After an hour and half, turn off the oven and leave it all alone, allowing the skillet to gently cool to room temp.
Then, do it again twice more.
You'll end up with a shiny, hard, black, non-stick surface.
(C) Care - I simply use hot water and plastic scrubbies to clean and always wipe dry immediately. If there anything is really stuck on, I put an inch or so of water in the pan, cover and bring to a boil for a few minutes. That is enough to loosen the problem areas and then wash in hot water. No soap, as it tends to stay with the cast iron.
I then rub with a bit of oil or shortening and heat on the stove top, until smoking. Cool and put away.