YOu should visit the Armor forums and browse through some of the builds, and pick up weathering tips--also use the "Search" feature for "Weathering" topics. You could learn a lot there!
Also, have you checked out my "Doog's Hairspray tutorial" thread? There's a lot of weathering info there too!
"Silver" is waaaaaaay over-used and DEFINITELY NOT good for simulating rust! Metal should be painted a combination of silver/black/rubber or brown. Rust is orangey when new, dark brown when old.