My first "restoration" attempt
Well, after much reading and worrying, in spite of the somewhat dire prognoses from the restoration sages here (for which I am thankful) and with the encouragement from others, I decided to keep her and see what a little handsanding can accomplish. I've still got a long way to go and there is a little bit of pitting. But the good news is that:
1. There is no heat damage (I think)
2. Pitting is localized to the top of the spine
Each side before and after 1 hour of sanding @ 220 grit:
http://img526.imageshack.us/img526/8060/p1020305.th.jpg
http://img35.imageshack.us/img35/681/p1020326.th.jpg
http://img172.imageshack.us/img172/2091/p1020306.th.jpg
http://img193.imageshack.us/img193/7636/p1020325.th.jpg