As has been mentioned, your list is pretty good. 1 1/2 years isn't too bad depending on storage conditions.
Remove rust from brake rotors (are the brake rotors still safe despite heavy rusting or should I replace them?) and other any other parts that are rusted
Personally I'd probably replace them, but you can clean them up and see (keeping in mind that you have to clean them in such a way so as to not damage the surfaces). If there is too much pitting I'd replace them; if they are warped or cracked - replace them.
The other things I may do would be to:
Ensure oil pan is sludge free and clean. Like I said, 1 1/2 years isn't bad, but if there is nasty sludge and gunk your bike be mad if you clean it out. :)
If carbureted, I'd probably take the carb of and give it a good visual check. It may need to be cleaned out or even replaced depending on its condition.
Make sure the fuel tank is rust-free! Don't want rust getting into the carb/injection and clogging things up.
Inspect/replace air filter. Cause why not?
Inspect/replace spark plugs and cables.
Replace the brake pads. This is just because you don't know exactly what happened to it while stores. If there were oils spilled on it or various chemicals it could severely damage them or at least reduce their ability to brake quickly. This is one of the most life saving systems on the bike, so I'd personally drop the $50-100 to have the piece of mind.
Check all the cables for slack, performance and integrity. It can be dangerous for your clutch cable to break randomly.
Again, a LOT of variance exists because of how it was stored. Most of the items I mentioned probably don't need any attention, but they're worth checking and or replacing.
Last note, if the battery is too low charge it may need to be replaced. A bad battery may charge and start the bike a few times, but whether it holds a charge is another matter all together. So keep that in mind too.
Motorcycle Gas Tank De-Rusting Tips