Worked for me. Did it the first year. This spring I had a mechanic swap a bunch of parts and he was like, "I think you have some kind of leak. There's this oily **** all over your frame." Then later there was a part I was concerned about rusting (it actually came from the factory with a touch of rust on it, I even bought a replacement and it came in the same condition). He was supposed to take it off, sand, and paint it before putting it back on but he forgot. Then he goes, "Don't worry. You've got so much of that rust proofing on there there's no way that thing's going to rust."
Apparently that stuff sticks pretty good. I assumed I would be beyond the need to reapply but apparently not. I still need to get around to reapplying some anyway though, along with my winter oil change. Gotta do the same on my cars, as well.