Aragorn, Can you post some pictures of the receiver so we can see the depth of pitting? From what I've seen so far I don't think the action looks too bad. Sometimes under the wood line though the pitting can get real deep. I don't think that it would be sacrilege to modify this rifle due to its "advanced" condition. It is your rifle. In my humble opinion though I do think that it would be best to try and leave it in it's original configuration. If you modify it you have neither an original rifle nor a 'slick" shooter. As an original rifle it can at least be a representative example of a type. (I don't like to call them wall hangers) Not all collector rifles need to be shooters. You probably have many other "shooters" anyway. Salt Flat