Everyone,

This is my first attempt at any sort of restoration. I got this King Cutter at the local antique mall for about $15, but it was pretty nasty. After I removed the rust and other stuff, I started hand sanding with some fine grit paper I had (not sure how fine, but felt very smooth). I worked on it for about an hour and a half and have gotten rid of most of the 'black stuff' but as you can see there is still some left.

Is this just pitting of the blade from the rust that was on it? Do I need to continue to remove the remainder of the black stuff? I would like to keep what little of the Kind Cutter etching that is still on the face of the blade, but also want a blade I can use without worrying about.