Gun Relics: "So I am thinking I am going to pick up a good, but cheap and common gun like this. I am going to take it apart and clean it, remove rust and pits and make sure the gun is 100% functional. Then I am going to learn how to polish and finish each piece, blue it and restore it to the best of my ability. I'm just going to do it for the hell of it because I love old guns. I will try to make it look like new."
I've done some garage gunsmithing a couple of times just for fun, and had OK results. The first was with a Marlin 1895 .45-70 rifle that had been in a minor fire. Picked it up cheap at a local gun show. Tore it down, fabbed and hardened a couple of missing parts, polished, and cold blued it. I would never shoot it, and ended up turning it in at a local Sheriff's Dept. "Kicks for Guns" event for a gift card! Another was a Colt 1862 Pocket Police .36 Cal. that was a block of rust. Got it at a local auction in an old toolbox full of rusty tools. Was able to soak it and get it apart and make a few repairs. I lightly polished it and only partially cold blued the frame and barrel (except the brass) so that it still looked old. I was able to get it mostly functional, and I still have the Colt in the safe. Both projects were a lot of fun and interesting. Good luck with your future project.