A frankengun for sure, complete with add-on adjustable rear sight. It started life as a WWII Victory model, and the cylinder is very unusual. Uncertain whether it was an original .32 Long cylinder (fairly rare) or if it has somehow been converted from .38 Special. If it shoots, use it as-is. If you want to try your hand at a DIY bluing job, well and good. You might try the Lauer spray coatings that look like bluing. I wouldn't spend a penny to get it professionally refinished.