tackhammertime: I cleaned my SA tank 20 years ago, rolled stones around in it then rinced, no coating added. The rust only becomes a problem when tractors are parked for months, low in fuel. Inside of tank rusts above fuel level, then when you start to use it, fuel washes rust off and it settles in bottom of tank, and eventually in the sediment bowl stem, where it plugs.
Having said this it is impossible to always have tank full. Then you have the full tank and gas get stale. I don't use my SA much in winter, try to keep it full of fuel. Come spring, I'll drain of half put it in another tractor and top them all up with fresh gas. Seems to work. You'll never have problems with working tractors.
In the winter of 2007-2008 I stripped and painted my SA. Tank was off tractor all winter, and empty at various places in my shop. In the summer of 2008, I did have some rust problem in sediment bowl stem, blew back on fuel line with air hose several times. This summer, I never had a problem, but I know there is still a bit of rust in there. Seems to be fine enough it's coming down to bowl, and I dump that about every 4 weeks. I'm assuming I din't have the larger hard flakes of rust this time as I did in 1989.
The magnet should work, you just need some way to pull it out for cleaning. As Gary said, most new machines have magnets in every reservoir; fuel tanks, transmissions, hydraulic systems, etc. I notice some cooling systems and windshield washers even have magnets. Magnets serve two purposes, they remove unwanted crap and let you see just if anything is grinding up inside that system.
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Today's Featured Article - Tractor Profile: Allis-Chalmers WD45 (Gas Version) - by Staff. Beginning production in 1953, the WD45 had the same general look as the WD tractor which was produced earlier - but was much more powerful. This was due to the new 4-cylinder "Power Crater" gasoline engine with a 4 x 4-1/2 inch bore and stroke. Some people feel this was one of the most significant tractors offered by Allis-Chalmers in those days. Nothing in its weight or power class could match its performance. In 1954 they began offering the WD45 with the new "Snap-Coupler&quo
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