That boring machine…is that a Millers Falls? I saw two just like it at an auction a while back. I didn't win either of em but I did walk away with a Champion Blower and Forge post drill. Anyway, that thing is sweet looking.
That boring machine … the only ID I can find on it says "Ajax." The bit you see in it doesn't "bite." I tried sharpening the lead screw but, wasn't successful. I'm looking for more bits, if you know of some, let me know.
I've also got a Cenedy Otto, Western Chief #0 Post Drill. I plan to learn a little black smithing in the future. I'll be on the look out for a forge, or making one, when the time is right.
Wish I could help you with an answer on that. I guess you could take the time with some sort of solvent and wire brush to scrub it all off or just paint over it. Maybe get it sandblasted? Not sure what the right answer is.