Thanks for the replies, guys. I called S&W this morning and spoke with a "David" about the gun. Of course he hasn't seen it and can't give an educated recommendation without me sending it in. He said there is an approximate 3-4 months turnaround time, half of that time necessary for the guys to inspect it and give a recommendation. I asked if it would be feasible to nickel-plate it if the pits were too deep to blue, but he said their nickel-plating system is down until possibly next year because they're replacing the vats, so that's not an option with them right now. He did say it would cost about $250 to refinish it, including shipping both ways, which sounds pretty reasonable. If I remember correctly, there would be a $45 inspection fee and $25 return shipping if it ends up not being refinish-able.
On the bright side, I then asked for a price quote for the rear sight elevation parts. After typing on his computer he told me all parts were available except for one, but that he would "look around to see if he could find one somewhere". When he asked for my shipping address I asked for a total price and he said they were sending them at no cost! I never expected that, for sure!
I have a neighbor who is a gunsmith and I plan to go to his place in the next day or two to see what he thinks should be done finish-wise. I will also contact Ford's to see what they would charge. If I have to go the Nickel/Chrome route, which one is more durable and/or capable of covering up the pitting? As for NP3, how well does it hold up to wear and tear as well as gun cleaning chemicals?
Because of it's rough life and my low investment I'm not necessarily looking for complete originality, just something that's pleasant to the eyes if I do indeed decide to invest in it.
Larryofcc, I don't have the serial with me, but if memory serves correctly it seems like it started with K84.