Above is the vintage 1940s wool robe/dress in the condition that I found it. It had been stored flat and the buttons had rusted leaving marks on the front and back of the waist, there were also several moth holes and a faded area on the lower portion of the skirt. I spot treated the rust on the front and back of the dress but they only faded a little bit still leaving brown marks.
The next thing I did was iron the dress and mark off the skirt and shorten it, this took care of the faded area and also gave me fabric to patch the moth holes from the underside of the fabric. I had some matching satin in my stash and made a cummerbund sash to tie around the waist giving it a more festive/holiday look and covering the rust spots, the final product below including some closeups of the moth holes that I mended. This dress and sash are now available for sale here