Got this in the other day.
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It's not as clean in person as it looked in the pictures on eBay but still not too bad really.
It had some rust on the spine and a fairly insignificant amount on the blade.
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Dang it! I neglected to take before pictures but you can still kind of see where the pitting is In the after pictures. After looking at the box and the razor itself, I don't think this thing was ever used. I can see no signs of hone wear at all and It looks like the factory edge I guess. The bevel is very, very narrow. The box looks very crisp.
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There is some chewing which looks like from silverfish but it appears to have hardly even been handled at all. The scales are not scratched, not even surface scratches. I used Mike's method and went after it with the polish and a scotch brite pad and then the rag with the polish for about half the intermission and one full period of the game which would have been probably about 40 minutes and it looks fabulous. I'll probably hone it up tonight and shave with it tomorrow.