Nice razor, but I think I will return this one.

For $28.00 you did pretty good. It can be restored and would probably be a very good shaver.

looks like a good ol' razor, just a bit of fine tuning to get it back in action.

Thanks for all your help guys... I managed to restore this one and it looks pretty good too.
You can have a look at the result of your encouragement in the workshop gallery link below:
http://straightrazorpalace.com/showthread.php?t=21785