small hole in buttplate(s)

[ssgross]

give it a good cleaning (remove any rust) and then coat it in a light coat of grease.

yep. I follow Peter L's advice in his butt fitting article on more than just enfields. It has been good practice to give a coat of XM??? grease (another thread here points to NLGI No 2 as the correct US substitute) on any wood to metal contact where the sun is not likely to shine for a long time.
I wasn't going to say it, lest I start up the "unwrap it or keep it wrapped" war again - but this was a wrapped 1955 mk 2. When I got it, the wrapping had worn on the butt and bolt handle. Front and rear sight protruding. The part of the buttplate and wood showing was starting to mold, and the paper at the bottom showed some water marks. In short, exposed parts of the rifle were noticeably degrading when I bought it. I debated, and considered the matter with my kids for many months.
It was time, and I'm not sorry.
To satisfy my concience only, I'm typing up a short letter on my 1945 smith corona (first year of re-production after the halt to make rifles in 1942) to put in the butt with the wrapper tags. It will read " my name is ###. I'm the original owner of this rifle. My kids are ###. They are next. I don't know who my grandkids are yet, but they will have their turn too, and add their names to this list list..."
Shhh. kids don't know I'm doing this. The look on their face when they find it long after I'm gone will be worth more than whatever value I've lost by unwrapping and shooting it.

[smle addict]

Awesome, that'll be a great gift!

Agree with you 100% on the unwrap. At a recent gunshow, I saw an unwrapped Faz. The grease was as solid as plastic, as was the paper. At that point, one would have to evaluate (as you did) the need to either leave wrapped or unwrap.

[ssgross]

Other than the points I mentioned, it's in great shape. Bore perfect and bright. I had mistaken reddish discoloration at the crown for surface rust. It was just from dust/grime hardened in the cosmoline. Stock had a thick layer of wax, with oil/grease stains in a few areas. Not wanting to sand them out (some too close to the markings or edges), I used the calcium carbonate trick (equivalent of brownell's "whiting powder"). Lightened right up. Final scrub with mineral spirits last night, and we are ready for raw linseed oil tonight!
Neither Brasso, nor soaking the buttplate in vinegar+baking soda touched the thick, green and moldy corrosion on the buttplate. So this morning before work I took a fine brass wire wheel on my dremmel. Cleaned right up without removing the tool marks from its original factory processing. I then polished it on a cloth wheel...I know there is a polish/don't polish war too on these. This one was so far gone, I polished only to have a blank canvas to work with. From here I'll let it take on its uniform, dull orange finish that it is supposed to have.
Suppose I need pictures too now that the cat is out of the bag...if only to redeem my original dumb question