Both my SARQs - Comp and Stripped CG, bought off forumites rust like this in hours if I dont protect the finish. Of course the humidity of where I use them is such that this is not a surprise. The blades can be cleaned very easily, but when the rust gets in under the handles, it can eat away and kill a good (and expensive knife).
I have found that the best solution for me is to remove the handles and clean off the whole knife using a power tool and emery paper disk. You can make the knife look really good if you want to spend time on this.
I then completely de-grease the knife ensuring that not a spot grease remains and use Hammerite paint on the handle part of the blade - this paint will prevent any rust from forming again and if there is any rust left, it will convert the rust and prevent any more from forming. (Hammerite paint is used on oil rigs to protect exposed steel)
On the working part of the blade I use Hammerite smooth spray paint with only the edge showing steel. Of course the paint wears off with use, then I simply de-grease and spray the effected parts. The handles are then refitted using removable tubes and screws.
As you can see my SAQs are not Safe Queens, but users.
If anyone is interested I will post some pics, the next time I do this process.