We Always Sprayed Them With WD40.. Some People Use Transmission Fluid. Or Tell Them To Bag It With The Honing Oil Still On It

You should consider a VCI bag (Volatile Corrosion Inhibitors), we use them at work and we never have issues. They are used in the shop as well as for shipments to Asia and Europe.

The big advantage over the other methods is that the protection that is used does not affect the surface making it next to impossible to paint later on down the road.

You can get them pretty much anywhere, the link below just provided a good explanation of the technology.

http://www.tewescorp.com/vciblog/?page_id=29

I stored a freshly machined small block for several years in Florida with no issues. I lubed up the bores and machined surfaces with 30-weight conventional oil, put a bag of dessicant in the lifter valley, and wrapped it in a 39-gallon trash bag. Worked perfect. The block was stored in a humid (but otherwise dry) garage.

WD actually makes a long term corrosion inhibitor now that works really well. We spray it on all of our bare metal components on our machinery that gets shipped in containers overseas. Never a problem.