Stove black also known as stove plish is what was used back in the day before reliable heat-proof paint was around. Its a waxy goop, and will make your stove look nice and shiney. However it is not water proof, and if water lands on it the stove will rust (back in the old days one polished their stove every week at least). You could get your stove painted with high temp paint - and that paint job could last 3-5 years.
This is what should be used.
Avoid using any type of grinding wheel or abrasive as you will ruin the seasoning, also likely ruin the nickle plating from your handles.
If you can unscrew the handles polish them (just the nickle) with barkeeper's friend scouring powder (its about a dollar a can) if you can't find it use bon-ami but it won't work as well.