I like it, I would start by taking off the brass patch and soaking the parts to remove the oil, I would also wash the stock with alcohol. At that point it may be possible to epoxy the wood together. The toe chip is easy, just plane it off and transplant a new piece of wood with epoxy and form it.. I would also work to stop any barrel rust NOW. A minimum of a strong WD40 spray and then polish, if a lot of polishing is required inside and out it may be a good idea to check wall thickness.
bill