i was readin' in this mariner paper .. said best way to stop rust .... brush on two coats of OSPHO ACID available at paint, hardware , marine stores.. it changes the chemistry of rusting steelfrom an active to a passive state and stops rust cold..
Stuff works great........use it all the time in the welding business It is not water proof and needs paint afterwards. If ya paint, you should rinse off after it sets for awhile. If you leave it on full strength and let it dry, it will tend to blister the paint after awhile......
Crab that sounds like what i will use on this rust on Mercury LU on the yoke,and up under PT-T. These older merc's seem to rust up in these spots. Maybe get couple seasons out of it Thanks
Rustoleum makes a product called Rust-restorer. Follow the directions and it works great, and lasts a long time. It also forms a chemical bond with rust.