You said you stripped the table with single-edged razor blades, can you explain how that is done?
You can use single-edged razor blades to scrape all the loose rust off of the table. just hold the razor blade at a low angle to the saw and literally shave the rust off of the table! if you keep the angle low it should not dig into the table and mar it. I got this tip from OWWM, a lot of people there use this technique to remove the majority of "loose" rust as the first step in cleaning old cast iron tables. I don't whether it is clear in the pictures of my saw but you can still see the original blanchard grinding marks on the table so it can be done without marring the table. Additionally, this will peel any paint spatters (my table was covered with paint drips and speckles) dried glue and other crud from the table.
Next (this may be optional for you, your table doesn't look bad), I used naval jelly (primarily phosphoric acid) on my saw table. It had some bad pitted areas where something sat on the saw table for a long time rusting. The thing about naval jelly is that it will actually convert some of the rust back to base metal and help fill in the pits. It is not perfect but it is better than just digging the rust out of the pits. The smell is horrible, though, and I would recommend doing any application of naval jelly outside. After it sets and works for 10-15 minutes, it needs to be rinsed off with water. Naval Jelly will attack paint, also. Naval jelly leaves a dark gray coating which is resistant to rust. A lot of people don't like this.
Since I did that saw I discovered Evapo-Rust. This product does something very similar to naval jelly, converting rust back to base metal and a black coating which can pretty much be wiped off treated metal. No fumes and it won't attack paint. Nor does it leave a dark gray coating like naval jelly. Since I discovered Evapo-Rust it has become my standard goto for derusting.
The next step is probably scotchbrite (the green scratchy plastic pads that you use to clean pots and pans in the kitchen) to polish the table and take it down to bare metal. I actually put my orbital sander on top of one of these pads and ran it, but I would use a light hand with this - get too heavy-handed and you can actually take metal off or leave swirl marks in the cast iron. No oil is needed, I did mine dry and then wiped the dust off periodically as I went. If you use oil or WD-40 you will have to strip that off with mineral spirits or some other solvent before trying to wax the table.
The key here (to me at least) is to remove the rust without taking any of the base metal away. No sanding and no steel wool! Once you get the table surface the way you want it, be sure to get a protectant coat on it quickly. You'll be surprised how fast it will rust up again! Many here swear by Johnson's paste wax. I used it for years but it seems I had to clean rust off the table and reapply every spring. Lately I have become a fan of the Boeshield T-9 product - three years now on my initial application and not a spec of rust!
Good luck!
