XryanX,
Welcome to SRP. Great story about your grandfather. When I first saw the razor, I was taken aback when I saw those notches in spine, but after scrolling down and seeing more, then I realized the razor was made that way. I let out a sigh of relief for you.
I agree with the other members, get it restored. It looks to me that it will make a great shaver for you.
Again welcome and all my best on your razor.
Patrick