I recently acquired a '84 Mark V model 500 with three SPTs... the bandsaw, belt sander, and an entirely unused jointer. I'm entirely new to the Shopsmith line of tools and woodworking in general. Fortunately, my Mark V came with all the paperwork, and I've been availing myself of the extensive online resources as well.
The previous owner bought it from the original purchaser and had it for two years. He only used the bandsaw (and that relatively infrequently). During that time he did not wax the way tubes/tables/etc, nor did he lubricate the sheaves.


My machine is mostly rust-free, but I've found a few rust spots on the bandsaw table and bench tubes (I think... it's dark in color and slightly rough, either oxidation or caked on gunk perhaps?). I've scrubbed the rough spots on the way tubes with #0000 steel wool. Some of it came off, but most of the darker stuff hasn't.
Before I address the rust spots on the bandsaw table, I wanted to ask for advice. I've read some posts about serious rust removal, but since these are very small spots on a mostly clean iron table, I don't want to apply a too-rough technique and create new problems (like polishing a low spot into the table). What techniques do you experienced folks recommend? Should I continue with the #0000 steel wool? Should I be using a rust-removing chemical? Once I'm done I will wax the entire surface.