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while i am not a Gun smith i have seen and shot worse and am alive and never had the gun have issues.
as a colector i would not touch , or have any one refinish the M27 because even as it sits it will be worth more then if you have it
refinished.
i would have it cleaned and checked for safety that would be all. you would be best served by posting your Q? here
Looks fine. I've done up a few mosins. That pitting is not going to harm its function. In fact it isn't all that bad really. I've seen much worse.
Here is my most resent sporter.
Back in the 1960's I had a job re-welding heavily pitted Mexican short action Mausers to be made into 243 win custom rifles.
I am no expert on moistens but I bet it will shoot for a year or two w/ factory ammo!
personally, I would sell it and buy a Savage
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