From what you're saying its either been honed ALOT or, more likely, the person who honed it used far too much pressure and a low grit stone and has worn down the spine and bevel.

Are there scratches on the worn areas? If the razor has been honed up to a high finishing grit you wont really see scratches on these areas, but if someones only gone up to 1000 or something you'll see scratch marks. The spine wear off a 16k stone is almost mirror finish to the eye.

If you want to get it shave ready I would recommend sending it out to a honemeister (see the classifieds) to be worked on.

Posting some pics would be useful so we can see whats up..!