Thank you Skip and Steve. You set my mind at ease. But now I feel really foolish. I turned it over and was looking at it and the same stuff that looks like rust is on the ceramic insulator. Ceramic does not rust. It kind of glistens in direct sunlight too like a moist cake. I am going to put an ohm meter on it and see what it says. If it checks out I will rewire this bad boy and the pretty 128 I have will be done.
Thanks again.
~G~