You betch'a. WD-40 is my all purpose 'go to'. And undoubtedly the least expensive of any ( that I've utilized ) 'all purpose' solutions.Never hear of WD-40?
Here's a link to cleaning rust...
How to Use WD-40 to Remove Rust (with Pictures) | eHow
It's time consuming but it works.
Fortunately my machines don't have rust. But I use WD-40 on just about every moving part of them. Especially the chain. Yes, the chain ( on the Bandit ). No fancy schmancy expensive custom chain lubes. Just a 3 buck can'a WD-40. Works on everything.
I wouldn't advise brushing your teeth with it, though. :mrgreen: