This is probably one of the most complete, recent discussions on this topic:
You can read it but the conclusion is basically:
- Use a good product like Sterling Cool or plasma Green ($150 for 5 gallons that will make about 75 gallons or more of table strength fluid)
- Cheap skates using Borax, 1/2 cup per table fill.
- Really cheap skates: use plain water and ignore the rust. The vinegar bath will remove the rust and mill scale from your piece of metal you want.
Edit: Note that many, such as myself that follows Option #2, empty the table after each use or keep adding product. You would not want your table just sitting and filled with just plain water. There might be all sorts of toxic stuff growing in that water and a cut or scratch from the metal or inhaling the vapor atomizing from the plasma steam and spray could be all sorts of unhealthiness.