I agree with SKANS...
If it's a Holy Grail type thing where it was bought and stuck in a safe for 100 years...it shouldn't need any touchups...leave it be, it's all original.
But a working rifle usually got repaired over the years as it was used...usually by the owner or the local blacksmith/gunsmith.
Great example, I've got a Marlin 99-G with a Walnut stock, Gold trigger, and a Marbles Bullesye sight...sure didn't come that way from the factory
But it's a 50-yr old rifle...and was well used, and when things broke, they got repaired with better items that happened to be available.
So I had zero problem taking the stock off, sanding it, and refinishing the wood. It looks ten times better than it did when Marlin finished it (Mar-shield SUCKS, IMHO), so when I pull that bad boy out of the case for a day at the range, it draws a lot of admiring looks.
Once you determine if it's a "Safe Queen" or a shooter...the choices become a LOT more clear.
Another example...this 1913 Marlin model 37...
Looks pretty decent, but it's quite well-worn and in need of a re-bluing & a refinishing. The blueing is pretty much brown...and must be redone...the only thing I'm still trying to figure out is whether to switch it to a Case-Color job. The stock has many dents & scratches and needs some love as well.
It's a shooter...I still take this rascal out and shoot it...my wife thinks it's more fun than her Model 60. So eventually, it'll get a good refurbishing that will make it look brand new...and I'll shoot the heck out of it and love every minute!!
Granted there ain't many of the model 37's left...but I want mine to look GOOD!!!