Store Bare Engine Block

What is the best way to store a bare V8 engine block to prevent rust? I thought about spraying it with WD-40, wrapping it in plastic, and putting one of those Renewable Mini Dehumidifiers inside the bag (the kind you plug in to dry it out). Any better methods?
motorcycle PJ1 chain lube, it's a spray can it goes on thin and watery (so it will go EVERYWHERE) it then turns into a thick grease and it made for keeping dirt and moisture out (it's made for dirt bikes) it's about 10 maybe 12 dollars a can and a can will do a whole engine block with some left over. getting it off involves lots of brake cleaner, lol
Pete