Joe:
1.) You could clean/polish it well with 0000 steel wool and 1000 WD paper by hand to a nice bright finish without any damage to the engraving..........then use Brownells OXPHO blue with the metal warmed up a tad, then polish and repeat as many times as required to get the finish or gloss you feel good about.....polishing in between with 0000 wool.......
2.) Or clean/polish to your desired level as mentioned above and blue with Mark Lee's Express Blue from Brownell's, which requires only boiling water after each rust coating.....instructions on the bottle....works very well.....and can be repeated until the desired finish and gloss is achieved......
3.) Other than that, hot tank salt blueing is the alternative using the same cleaning method with 0000 wool and 1000 WD paper by hand......
OXPHO is easily removed with 0000 steel wool and 1000 WD paper, as are most blue finishes, if you don't like the results...BTW....
Lot's of folks use a fine silica sand blaster set on a very low pressure to clean over engraving with pretty good results......then polish by hand.......
Good luck with it.....