Rockwell Table Saw Restoration

I just bought a Rockwell Model 10 Contractor table saw and am currently getting it ready to use. I want to tear it down and clean it, paint the CI and rewire it for 110v. One question I have is about the shafts inside. How do I clean and polish these up? WD40 & elbow grease? How do I keep them from corroding again? There is a light layer of rust on them now. Also, what parts do I need to grease (what kind) in the saw cabinet?
I also want to add a better switch on the front. I saw one at Grizzly for about $12-13. I don't have the money right now to buy a nice mag motor starter switch. Eventually, I will find a good unisaw to restore and I'll add a mag switch to that when the time comes.
One idea I have for the table top is to use gun bluing to blue the top. I got that from a local millshop worker.
Any guidance?
Steve
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Keep the parts dry and they should not rust. The top can be kept from rusting and you will get a slicker surface if you use TopCote. A lot less effort and TopCote was made for this purpose.
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You might do better at Old Wood Working Machinery.org owwm.org. They might have some items posted on basic restoration steps, the forum is a wealth of info that can be searched and the same question you posted here will get expert advice real fast; there are lots of people on that forum.

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oops, owwm.org is the forum. Look at owwm.com also for docs

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Thanks! I've joined OWWM. Pretty cool!
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Wet sand with WD40. I've taken heavy rust off old iron, and it never returns.
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Wire brush (I like a pneumatic die-grinder with 2" wheel, personally) will take off anything loose, a bit of twine and some mild abrasive (metal polish) will also help. If you can take it apart, a bench grinder with wire wheel is good.
I like to heat the metal bits and rub down with a parafin-soaked rag, but paste wax is also good for keeping rust at bay. If it can't be disassembled, just rub with a bit of boiled linseed oil.
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