Very tough to tell exactly what need to be done to it using those pix - but - unless there's more to it than I can make out, some minor sanding (do it by hand using about 1K grit to start and go more coarse if needed) and work up or down the grits as necessary to get the pitting out. Then polish it, hone it, and shave. I wouldn't mess with the face of the blade where the ship thing is because it looks mostly fine and that art can't be replaced.

You'll lose the gold wash on the tang and top of the blade most likely, but if you can get the rest of it mostly smooth then that wash can always be replaced. It's not all that tough to do, but if you don't want to mess with it (or make the small investment in materials) then talk with Mark (Mycarver).

Good luck with it! Appears to be a very nice score.