Need help with welder refurb

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I had recently aquired an older Miller 225 Thunderbolt welder. I tore it down to restore it to look newer. I have the main welding part out and was getting the rust off of it. Is there anything I can put back on the metal so it doesnt rust back up, ie: paint. It looks like the metal is not a solid piece but a bunch of small pieces compressed together. So I'm not sure if this is for heat disapation or not and if painting would hurt more than help.The main unitThe best I could get for a close up of the "layered" metal beam:ThanksRicky
Reply:The laminated transformer core (probably of high-silicon steel) is for electrical, not thermal reasons. A thin coat of paint won't cause overheating  or other problems, so long as it's not conductive. I hope the cleaning didn't damage the electrical insulation of the nearby wires; they do need it.
Reply:Thanks.I stayed away from the wires. Used rifle bore brushes when I was close to them and for the tight spaces. But I will defintely double check them to make sure.But I had to clean it, just couldn't leave it rusted up like it was. OCD Picked up the upper and lower cover halves from the sandblasters today. Hopefully I might have it back together before the end of the week.ThanksRicky
Reply:The transformer core can become quite hot, I would use Black Rust-o-leum pant for BBQ to take the heat. Maybe add a cooling fan too?
Reply:Thanks. I actually think I have some of that paint already. It already has a cooling fan on it but I'm trying to find a replacement motor while I'm at it because the one on it is old and makes a little noiseGot the covers primered last night. Slowly but surely! ThanksRicky