It's been years since you asked this question, but I have been using it recently on the Ner-a-Car.
https://picasaweb.google.com/lh/photo/Dn4MvZsycmAR-2H80DSkLNMTjNZETYmyPJy0liipFm0?feat=directlink
The picture shows a number of parts as they came out of the tank after a wash and a scrub. They had been in the tank for about 3 weeks. The right-most part was in reasonable condition, and is cleaned to silver metal. The other parts were all rather pitted, and are shiny where scrubbed and darker in the pits. Some part have immediately rusted on exposure to air.
It's probably best to fish the parts out and wash them on a sunny warm day.
Anyway, it definitely works, and the black treacle solution seems like an easier thing to dispose of than a similar quantity of phosphoric acid.