Ultrasound might remove some scale but is really for loose particles, and in conjunction with a suitable detergent, lightly greasy contamination.
Vert careful use of mild acid such as citric, or the compounds sold for removing scale from chromed domestic fittings, is about the only thing that will remove lime scale.
For that, brush it on the regulator in-situ, wash it off with water (soft, e.g rainwater if your tap-water is hard). The worst scale on a slide-valve regulator is most likely around valve itself and the link mechanism, rather than the seating. If it is badly scaled up, I’d wonder if the locomotive often primed in the previous owner’s use.
While you have the fittings off and the dome open, it would be worth examining the boiler as far as is visible, for scaling. Kettle descaler should clear it without harm. A simple though not fully infallible test for clear water spaces around the firebox is to open, or remove, the blow-down valve(s), pour a small amount of water into the top and see if it obligingly pours out of the blow-down fitting.
It’s worth giving the boiler a good washing-out at this stage anyway.
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I take it you know if you intend running the loco in public, including private club-track service, it will need a boiler certificate, so you will need provide a suitable adaptor to allow the club’s test-pump to connect to the boiler. Ideally such documents should have come with the engine, but the standard test code does allow for their lack by treating the boiler as if it is “new”.
You won’t need this if you only ever run it on your own garden track, but it’s still very wise to ensure it passes the hydraulic and steam tests “by the book”, for your own safety.
If you have it tested by a club (of which you need be a member, of course) it is good practice to give it the normal test, just to working-pressure, beforehand, to ensure it actually can be tested. Club boiler-admirers can, but would rather not need to, refuse to test a boiler that may well be perfectly sound but whose fittings leak like sieves for the want of simple maintenance and preparation… (Yes, I’ve known it happen.)