LOL you're a nutter aren't you.
I had to do this to an old lakefield once. I used 0000 steel wool, LIGHT pressure and spray silicone. Silicone being hydrophobic where as WD40 is actually hydroscopic. That being said WD40 is actually "suposed" to be heavier than water so it will get under the moisture an displace it (WD40 stands for Water Displacement 40th formula).
I like to put a covering of water repelant silicone on my guns verses a "displaceing", gumming, oily crap. But that's me. Ever see what a gun rubbed with WD40 looks like after a period of time? All the screws are glued in like locktite, the stock is vertually unfinishable...and glued on, the WD40 has coated the inside like tar...but under the tar is rusted metal, often bare as if somehow the WD40 had removed the bluing over time.
There's a bunch of 'wrong' in that there post.
WD is NOT hygroscopic. It is not heavier than water either. And despite folks using it as if it is an oil, it's mostly Stoddard Solvent. And therein, lies the problem, as the solvent looks wet after it has been wiped onto everything, then slowly evaporates leaving essentially a clean unprotected surface, with a very tiny bit of residual oil here and there. Which is why things 'protected' by WD-40, rust.
It gets under the water on a surface, by sticking to the surface better than water does. Thus displacing the water, allowing it to go away, either when blown out with air, wiped with a cloth, etc. If it were hygroscopic (attracted to water) it would cause the water to stick better.
Great stuff to use to swill around while scrubbing down a part with steel wool, but not such goods stuff for replacing actual oil.
Speaking of hygroscopic and oil together, be aware that the Detergent additives in detergent Motor Oil are hygroscopic. That means that one is better off not using detergent motor oil to wipe down guns for storage either. The function (one of them, anyway) of these additives is to grab on to and hold the condensation moisture inside the engine, until it can be heated up enough to be carried away through the breather by the engine heat while it is operating. Which, in a most basic sense, simply means that just because it says that it is oil, all are not equal!
And yeah, it's a Cooey, not the fricken' Mona Lisa. Nobody is paying top dollar for a well used Cooey as a collectible these days. No guilt from a reblue. Good opportunity to do a rust blue at home. Cheap and low tech, but a bunch of work. It'll look better than using instant blue though. And be more durable.
Cheers
Trev