Hmm. I'm definitely rather preserve the etching than have a mirror finish. To me, it appears the blade isn't even supposed to have a mirror finish. I couldn't get it to come across in the photo and still have the boat visible, but the boat actually has a pretty reflective finish where it's not rusted over. I imagine there would be no contrast and thus no boat if the rest of the blade matched that.

...and I'm with you on the third one looking to be the easiest. I'll probably work on this one and then see to the other two.