Took the barrel off my Cyclone and found rust!

I bought a used FX Cyclone recently. I just took off the barrel to clean it and found rust:



I find it strange that the barrel support on the end of the air cylinder has o-rings to keep moisture out of the space between the support and the shroud, but the point where the barrel attaches to the receiver doesn't have anything to keep moisture out of the receiver. I don't think I can add an o-ring without having a groove cut into the barrel for it. If I just jam a ring between the shroud and the receiver, I think the transfer port will be in the wrong place.

So my plan is to clean the rust off with a bit of steel wool, oil this part of the barrel, and hope for the best. Can I use pellgunoil for this? The receiver is aluminum, but it has some rust deposited on the inside, so I'm going to scrub that out and fire a few blasts of air through it to make sure there aren't any loose particles in there. Does that sound reasonable?

I also found this:



One of the o-rings appears to be scraped or cut. Can I replace this with a standard nitrile ring? I have a big assortment on hand.
 
Yeah, I've seen what swamp coolers can do to machine tools. Maybe the rifle got rained on a bit. I took the photos after wiping away the loose rust with a rag. A brass brush took care of the rest. I cleaned out the receiver with q-tips and a drop of chamber oil.

The nicked ring appears to be an exact match for what my assortment calls size A010 (1/4" x 3/8" x 1/16"). I expected it to be metric. I replaced the ring and inserted and removed the barrel a few times. Apparently the section of the receiver that this part of the barrel goes into has very sharp corners. It shaved off some tiny slivers of the new ring, but nothing near as bad as it was.

The proof on paper will have to wait until tomorrow...