I've read great things about the UK product Waxoyl in terms of its ability to rustproof as well as to halt the progress of existing oxidization. However, it appears it isn't available in the US as a product -- you have to pay a dealer to apply it as a treatment -- unless I just haven't found the right source. So does anybody know where I can get it in the US, and if not, is there an equivalent product sold under a different name maybe? Amsoil HDMP?
closest thing I know of is LPS#3, but if you're coating the interior of a bike frame JP Weigle's Framesaver is a superior spray, and Boeshield may be a good second choice. All of them probably cost more than Waxoyl, but may have more ingredients to justify the cost.
edit: did a quick search and ther's a Mini parts dealer in Atlanta sells a spray can for $18 (!) and that's a "discount" price...I'd go with Framesaver, and you'd save money!
Waxoyl I belive is used primarily in counries like the UK for automotive rust proofing.
I don't know if you would want to use what could be thick/heavy material meant for cars.
I would think a spray of light oil product would be suffcient to generally control rust in steel bike frames, unless you plan to do many many wet miles or cyclocross in the swamps with your bike.
I just used WD40 on my Peugeot that I spray in the tubes everytime I have a chance to break it down ( I did break down the bike completely and sprayed down the tubes with WD40 whenever I got caught in heavy rain during long rides). The bike sat for many years time unused in someitmes damp garages and it seems like the WD40 spraying I did back in the 80's kept the rust away. I inspected the seat tube recently when I was restoring the bike and I do not see any rust in there at all. I'm planning on a bottom bracket service as soon as I can find my French threaded Park crank puller and pin spanners and I'll find out if everything is also OK down there. I do not see why it would be different.
Well, it worked for me on it's own and I had ridden the bike in heavy rain many times. The cans do say that it inhibit's corrosion, so maybe theres something in it that does protect metals.... I guess you can follow a WD40 application with a spray of light machine oil as maybe used in sewing machines (keep the stuff as light as possible because most do want as light a bike as possible in the end), to coat the tube interior. I still think WD40 is a good thing to use as part of corrosion control for steel bikes cause it does displace the root cause of the corrosion anyway, specially if you ride in the rain.