Vadid considerations. I did end up doing a frog lube treatment. Used the paste, smeared it on, put the parts in the oven on warm for 20min. After letting them cool I wiped them off with a paper towel. My goal was to clean not lubricae.
I decided to do it as i had noticed some buildup on the ends of the weights where they were in contact with the spacers which you can see in the pictures. There was a light coat of surface rust that turned the paper towel brown as i was wiping off the frog lube after the treatment.
Hopefully the treatment will protect the steel weights going forward and not cause any issues, they were dry and felt normal after cleaning.