I use a wire wheel on a bench grinder and I also put them in a french fry basket I got at Goodwill, then into my sandblast cabinet. Clean as a whistle. Of course, we don't want to destroy any plating on them. But old hardware does not have plating per se. It is a Black Phosphate Treatment. Not to be confused with black oxide. I like to keep that look. Can be called Parkerizing. Light blasting and wire wheel are my choice. I like the Thread Wizard because it is just a wire brush method. I find that hand held against a bench grinder wire wheel or a group basket is very fast. I always use the old hardware. 99% is reusable.
Using a drill with wheel is harder to do unless clamping drill in vice and using it like a bench grinder. I do wear off my finger prints now and then on the small ones. Cleaning hardware is therapy for me. Don't know why, just is.
I don't like using chemicals if I don't have to.
Also, I'm sure some will think the way I do. I see how easy it would be to make one out of aluminum or steel plates and a wire wheel.