The other thing about cutting metals like steel on a wood band saw (apart from the massive speed reduction needed as quite correctly identified above) is the fact that unless you're just cutting tiny bits, invariably some sort of lubrication is called for - doesn't matter so much what the liquid is as the fact that A) you've got to get the liquid on to the cut, (a brush sounds a bit dodgy) and B) when you go back to cutting wood, you've got to get all the mess out of the machine again (i.e. "oily" residue plus the metal swarf), otherwise you'll ruin the wood.
I'm not saying it's impossible but if you look at the sticky on hack sawing in the General Metalworking section here you'll see there that I did discuss this in a bit more detail with the conclusion that using one machine for both jobs is not really feasible unless it's the odd bit of ali - not "impossible" note, but certainly not something to do on an "off hand" basis. I backed that up with a couple of pix showing the obvious differences between wood and metal band saws (their layout & construction).
Personally I'd say that if you've only got a bit of steel to cut "now and then" it's better to get your (hand) hack saw out. used properly with the right blade and correct technique it doesn't take all that long and isn't too hard (even in this weather)!
If you've got a lot to cut on a pretty regular basis (like some sort of fabrication shop for example) then it's much better to buy the proper saw, or a powered hack saw. If funds don't permit either then perhaps you can find a local jobbing shop who can cut stuff up for you, or a model engineering mate or club locally who may well be prepared to cut sets of stuff up for you (they often have a powered hack saw or metal band saw) in return for a contribution to their club funds.
Sorry, don't want to rain on your parade but HTH anyway.
Edit for P.S. I don't know the machine you've referred, to but as above, if you can run to it, getting the right machine for the job is the way to go (even if it's only a little relatively low-powered machine which may take a long time to cut big sections).