Rob,
I would NOT use steel wool, its way too easy to take remaining finish off.
Rather, buy some Kleen Bore Formulae 3 and use the edge of an old copper 'wheat' penny to remove the surface rust. Using a fresh bronze brush stuck in a suitable handle can work on the engraving and if you are handy you can make a handled 'point' using a portion of a brazing rod & the same formulae 3 to do the chasing of the engraving with much better results. Take your time and you will be very pleased with the result and there is no issue with a 'slip' if you make one as the copper & brass are both softer than the steel and its surface blue finish. I'm assuming you will have the stock removed, if not be even more cautious as a slip w/ a brass 'point' could easily put a new gouge in the wood.
edit/addendum: 'The Formulae 3 w/copper penny edge or brass point will not harm the original blue finish. Steel wool can certainly do so. I most certainly would NOT use anything stainless steel on the outside of that gun's metal, you are guaranteed to leave scrathes & marks, doing more harm than good.'
You have excellent advice from others about not going overboard on it, you can easily exceed its value which will be that of an interesting high grade shooter.
As to fair price, and this is only my own opinion, I would think that somewhere around $400, but not further north than $600, taking into consideration that all model 17's are 20's, so even though it is a desirable ga. it is not at all rare from that perspective. The grade does make it a lot more desirable, but the condition will kill much of that. I could not determine from the pics if it has a solid rib and that too would hurt from a desirable featurs perspective I would think. No matter, they are wonderful shooters. I realize that this has been a targeted acquisition for you for a long while & am glad that you are finally getting a shot at it, but keep in mind that anything above the range mentioned is 'gifting', IMHO. The market is very soft at this time and that may or may not enter into your thinking, but at least be aware of it. There are true collectors here, much better informed than I & on other sites for more varied opinions, but I'll stick to mine. Perhaps something here will prove of assistance to you.
kind regards, tw
