So here is what was under all the varnish or whatever it was. I kept scrubbing until a clean white picked up minimal stain. Of course I didn't try to get it all, just what would leech out without any more aggressive efforts. Lacquer thinner and gently rubbing with steel wool.
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Next, I used my alkanet+alcohol stain to bring back the original color, add depth to any "newer" scratches or bruises, and create contrast in what is left of the cartouche and proof stamps.
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first 3 coats of red oil went on this weekend.
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Here we are now.
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I scrubbed off the surface rust from the barreled action with fine steel wool and thin oil. What's left is just a cleaner version of the original condition.
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I'm thinking of eventually rebelling it, but not now. I'll finish getting the lock cleaned up, then assemble and shoot. I haven't de-soldered that front sight yet either. I'm not in any hurry, accept to just enjoy it!