Being patient is not one of my strong points! Today I released my fabric from the bag of rusty stuff. And as we all know "rust never sleeps". I also read somewhere that it can be bad for your health if breathed in large amounts, so be careful.
I rinsed mine out with Baking Soda. It took a long time for the water to run clear. I will try it again this time leaving it in even longer. Maybe hide it, so I'm not looking at it on a daily basis. Anyways, here it is. Ready for future use!