On the other hand, the "Krud Kutter: the Must for rust" I mentioned is also an inhibitor-- I used this one on my cast iron band saw table, and it looks like the day I put it on. No issues with need to re-coat or breakdown whatsoever.

...but I should have also told you that the Krud Kutter looks like hell. Mottled, metal & white spots, almost powdery-looking (but not actually powdery)residue left on there.

the GlideCote, on the other hand looks great-- important for my table; not as important for the band saw, not at all for your column, I'd think.