If the bore and mechanicals are good, then it looks like a perfect candidate for Durablue, or Gunkote, or Cerracote to me.
Smooth out the pitted areas the best you can, then coat it.
Might not look great, but it would look better, and it would be protected enough to shoot without further damage.
....but then if I had Lee Oswald's Carcano I'd be down at the range fast testing it's virtues as a rapid repeating sniper rifle.
Historical value....what's that?
OK, I'm not that bad, but all of my guns are shooters.![]()
Looks like a safe queen to me...
Looks like the rare "antique finish" 586. I'd either have it lettered by S&W for future sale by Sotheby's Auction or give it a good coating of cold blue and make it a fishing/truck gun![]()
You know what I do with a gun that's too nice to shoot?
I put a "For Sale" sign on it.
The more you shoot it the better it will look and you will have bigger smile on your face!