No, Richard, I'm stupid, not ***stupid! The water is to put the fire out if the oil overheats.:rolleyes: The bucket rests on a couple of bricks, then a scrap wood fire lit undeneath. One useful bit of kit I keep in the workshop is a fire blanket. Keeps welding spatter and grinding sparks at bay as well.
For small parts a Lapidary tumbler, used to polish stones for jewellery is a nice tool. You can get various grades of polishing material.