Is it worth the effort?
To begin with I am a user and not a collector.

I have a blade (without scales). The side of the blade has (etched/engraved) "WORLD'S COLUMBIAN EXPOSITION, CHICAGO 1893" and the picture of the buildings across most of the length of the blade. Also etched on the left end on the same side of the blade is "1492" and on the right "692". A faint image "BOKER" is on the tang. I have done a very rough removal of rust spots but the blade remains pitted. I will not be able to remove the pits without destroying the etching. There is a fair chance of obtaining an intact edge with a correct bevel and if so the blade could be a good shaver. In keeping with tradition I would probably rescale the blade with new tortoise shell celluloid. If it is a collectors item, I probably would not keep the razor.

Any suggestions? Is it worth the effort?