Hi Rob,
People on this forum are just great, and so helpful.
Some comments on your earlier queries:
-That enamel from 'Paintman' looks pretty expensive in small quantities. It seemed pretty reasonable for enough to paint a Land Rover, but maybe not the choice for one aerosol if you are on a tight budget!
-Boiled Linseed Oil, thinned 50% with white spirit does look great. I have used it a lot on vintage tools and of course it doesn't cost much at all. It's easy to apply, but heed the warnings on disposing of used rags afterwards.
-Suggestion, you could always use BLO now, then paint the vice at a some time in the future as funds allow. As a traditional woodworkers finish that would be in keeping, when I was a kid I remember watching the village wheelwright after school and he mixed all his own paint using Linseed Oil, turpentine and coloured powder for the pigments. They probably contained plenty of lead! There are modern recipes for mixing paint this way if you search the internet..
If you prefer your life to be less toxic there is a book about it, but I haven't yet managed to get a copy: 'Shellac, Linseed Oil, & Paint - Traditional 19th Century Woodwork Finishes by Stephen Shepherd'
-You enquired about painting beneath the wood on the jaws. I unscrewed the wood on my old Record vice and had a look, and that has paint underneath. I bought it new 50 years ago and it's original. All done with blue paint except the top and side edges of both jaws which are a bare metal.
Looking forward to seeing your progress.. J.