Remembering my minerology, common rust is limenite, hematite is the higher oxidation state. I had assumed the patina was hematite. But I know a guy. Hang on...
Okay, here's my guess: Wustite is FeO, and does not occur under normal subareal conditions -- it is iron meteorites, one deposit in Greenland, and a transient product of the steel/ironmaking process. The common oxidation states of iron oxide are Fe2O3, limonite-- common orange/red rust with an orange streak test -- and hematite, a much darker compound with a dark red streak. Magnetite is Fe3O4. We believe that the bar patina is magnetite, essentially the same thing a a gun bluing, and that the higher oxidation state is cause by skin contact and the oils and acids found there. This may explain the fact that racks and rack pins not exposed to as much handling oxidize at a slower rate. Basically, steel left outside in the rain rusts, and steel in the gym gets a bluing job over time.