James, like you said the gun has seen a lot of use.
These guns were available from 1894 to 1912. There were a total of 3,042 made of which most were 12 ga. (2,592). Nitro Steel was first introduced in 1895. There were 242 made with 32" barrels.
The above information is from "L.C. Smith Production Records" by Dr. Jim Stubbendieck of the L.C. Smith Organization.
The problem with the top lever could be where it locks into the barrel's rib extension. From many years of letting the barrels slam closed, the slope on the rib extension gets worn. A good TIG welder could do that and then filing the slope.
If not cracked all the way through the wrist, the stock can be fixed and there are some good men out there that can do this.
A lot of the Quality 3's had some very nice wood.
I have seen more woodcock/snipe on the right side than ducks.
Good luck in what ever you may do with it. Fixed right it would make a good shooter at trap and turn some heads doing so.