Glass refinishing/buffing

This is not a joke: On my car, rust from rainwater running off the paintless roof has caused some rainbow like coloration on the rear window glass. I'm thinking buffing should clear that up, but since the question has been raised, I'm wondering if anyone has had experiance with this?

For what it's worth, I bought the car this way, and it will be sanded and painted as soon as it gets to my garage.

We have had brand new rear glass come from the suppliers like that. We have a problem getting one that is clear without the rainbow effect for older cars. Now if it was clear before it got rained on from a paint less roof then that's the first for me. We had a 62 Nova II that you could stand one way and not see the rainbow then stand another way and see the rainbow. This was a brand new rear glass. Buffing might help if it was rained on and then the rainbow was noticed but if it came from a glass supplier that way then it will not buff out. The owner with the Nova said to "Let it go.... I'll drive it anyways." But to be truthful I wouldn't want it that way on my car... it was pretty noticeable.