Second deans statement on this being a worthy project. Without knowing your purchase price, it is hard to tell how worthy. But a 10g. EH with steel barrels doesn't pop up every day.
The issues with engraving and CCH work can be easily corrected with just some money and time. And yes, the barrels should be completely checked out. Also, if they have also been hot blued, the integrity of the solder joints should be inspected as well.
Reshaping that BTFE would be a great way to go. Keep the cost down and work with what you've got. The hard part is done on that one.
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B. Dudley
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