Technically, rust is iron oxide or oxidized metal. The black color is due to iron phosphate, according to the Ospho label. Practically every rust-fighter product I've used works similar to this, causing the rusted metal to turn black. I've always preferred Ospho since it's one of the cheapest rust-primers, but my local NAPA store quit selling it. THe shipping costs more than the product was worth, according to them!!!
THey sold me a bottle of the Restore, since that's what they now carry, and it's half the cost of P.O.R-15. I like to see the rust go away or turn black before doing any painting, and not just cover it up hoping it won't come back later on.
If anyone has other rust products that they've used with good results, please post a link to some actual pics or provide some info.