I finally got cuious enough to see if you could use a rusty bit, because it was late at night and I was bored. I googled it and many of the answers were: yes. You can use a rusted bit.
They suggest that you take steel wool to it to smooth out any sharp edged and to get the flakes off of it, and to polish it down to the actual metal. They also insist that horses enjoy the sweeter taste of rust and it is similar to copper in the horse's mouth.
Do any of you know if this is true? Have you used rusted bits before? I have used bits that have had some rust on the D-ring, but never on the bit itself. Let me know your thoughts and opinions on it!