Non-oily rust proofing?
For most woodworking tools, there is no particular need or benefit from a "glassy" or totally-rust-free surface. A moderate case of smooth, tight, non-flaky rust is immaterial to the function. I put paste wax on (bowling-alley wax - unlike most floor waxes it does not have abrasives in it - you also want to avoid silicones or you may have finishing problems on your wood products) but until you reach the point of rust-stains on the wood or something like that, a bit of rust is not an issue. If only you'd bought yours used, someone else could have gotten the new off it for you and spared you the agony of seeing it become a tool in use, rather than a shiny thing that hasn't been used.

Most of the tools that get moderate use have a tight blackish layer - not shiny silver, not rusty orange.