Didn't Trek show a belt drive bike recently? I can see the benefits for road bikes, but mtb's will surely just catch loads of mud, twigs, etc and ruin the belt.
Looking sweet! If you use a mega fine wet 'n dry (2000grit+) then you effectively remove the micro scratches so it is less likely to oxidise so quickly because there are less places to oxide to biold up Try some car wax too as mentioned.
Nice...I like the battleship look! There's a bit of a trend for grey paint jobs like that on modern stuff...but that's 'cos they are going retro! ;-) Hope it goes to a good home.