If this is your
machine, it uses standard 6"x48" belts which are readily available. Example:
Grizzly has belts and 9" discs. The Vintage Machinery site also has the
manual.
Steel wool will work but I find it messy. I like
Evapo-Rust followed by Scotch-Brite Dremel buffs. For larger surfaces, like machine tables, various size Scotch-Brite discs on a random orbit or right-angle pneumatic sander with WD-40 or other light oil will do the job fast and without hand cramp. Once clean, follow-up with plain paste wax or a sealant product like
Bostik Topcote.
Congrats, looks like a great old machine.
Additional Info:
OSHA: Wood Dust Safety
Klingspor
Norton
Mirka