Question about buffing out a gearbox & other metal surfaces

I have a bit of corrosion starting on the surface of my gearbox and a few other metal surfaces (carbs, crank case, etc)

Would it be safe to hit it up with some steel wool then buff it out? Or does the metal require some sort of enamel to protect it?

Heres a picture: http://imgur.com/1CQh2jc