Since my table saw sits in my basement, rust is a constant concern. To protect my table saw from rust I use Boeshield T-9. It is easy to apply, just spray it on and use a rag to wipe off the excess. It goes on like a wax. I reapply T-9 every few months to maintain the surface.

Boeshield T-9 can be purchased at The Rust Store. Boeshield T-9