I've been thinking about trying paraffin wax as a coating for tools that don't see use often, and don't have precision surfaces to protect them from rust. I have some CHEAP steel pin punches, and chisels that I applied a thin coating of paraffin to in order to keep them from rusting, and it seems to be effective. Is there a reason that it's NOT used??? It seems to be a good long term solution to rust on surfaces where they don't get frequent contact, and aren't oiled.