I just picked up a new all-steel frameset, and the can of Weigle's Frame Saver is on the way.

I can't think of any good reason not to put frame saver on the outside of the threadless steerer below the point where the stem clamps it. Would it be OK to treat the whole length, or would the frame saver compromise the stem's ability to securely clamp? Is there a reason I shouldn't treat the outside of the steerer below the stem?

Thanks.