I recently Iron-X'd my series 1, It's been freshly painted a year ago and hasn't been on the road since, However it has been in an environment where metal has been ground, but I always made sure it was well away from any metal filings, clearly never far away enough
I'll let the pics speak for themselfs:
Practically the whole car was like this
You use Iron-X before clay barring, can be used on alloy wheels also.