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@Russell160
Let us know how you get on.
In theory it should rust anyway from moisture in the air regardless of whether you ride it in the rain. Iron plus oxygen plus water = iron oxide (rust) every time.
But it does look fantastic in the raw.
I suspect that if you can oil it lightly and live with an occasional rub down with wet and dry once a year it'd be ok.
I got my Framesaver from Ceeway Bike Building Supplies an dit was a tenner last time I looked. But I agree with others, it's only with thin stuff like 531 and less that you need to worry about internal rusting, I think it'd be ok without.
I am not sure about the idea of heating the oil 'off' the frame. The whole point of the oil is to leave a film that blocks the oxygen and water. But if the guy says it works. I guess the whole thing is a bit of an experiment : if it don't work, you can always rub it down and coat it.
Or wrap it in cling film?