I don't know much about 1903s, but this is not 1903-specific: the brass trimming idea is BAD. It will lead to rapid erosion in that exposed area of the chamber, thus making things worse.
Until such time as you can get the thing "chucked" (in Denver!) I suggest that you really, really polish the chamber. This a) cannot hurt b) will make extraction just a tad easier, by taking any sharp eges off the pitting.
If you then find that you can live with the barrel, then I further suggest that you freshen up the muzzle crown and use fire-lapping to polish out the rest of the bore. Depending on the size and distribution of any pits, bullets will sometimes ride over pitting and produce good results, even though the bore looks horrible. The fire-lapping makes sure that there are no sharp edges to those pits to tear up the bullets and cause leading/coppering.
Patrick
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