When I got this Marlin 32-40 it was a high gloss blue..I then annealed and re-cased it after about two days of hand work and rust blued the barrel and mag tube, etc.(which is the way this gun left the factory in 1906).....
To answer your question, yes, it can be re-cased..............your engraving should be o.k. if not already damaged by the polishing efforts of whoever blued your gun........
As already mentioned, Ken Hurst could "freshen" your engraving, but best to call him he is the engraving "expert"......he includes his phone number with his signature line on this site..........
Best Regards,