Some pitting is kind of par for the course with old blades like that. The trick, and it is a real trick, is to know when to quit. At least for me it is. Some people like "patina" but not me. You say patina I say rusty old crappy looking funk. Anyway the skinny is that leaving some pitting is not unacceptable (even though I personally hate it).

If it were me I would sand up those wood scales and put them back on, especially in light of the amount of pitting that will be next to impossible to get rid of. I think the new scales will make the pitting show more. That's the meter I always use at least.