I would get the barrels re blued for sure. Then see how well the rust on the frame will clean up with some oil and super fine steel wool. Case coloring the action should be the last thing to be done and is really only a cosmetic thing when push comes to shove.
The rust on be frame is not as bad looking as what is on the barrels. If you can get that under control, and blue the barrels, you will be in good shape.
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B. Dudley
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