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Removing pits is not a good thing if they are deep. Pits are removed by bringing the surrounding metal down to the level of and below the pits. In essence you are removing metal that may be in an area that sees pressure. In my opinion, not a good move.
If you polish, blue and do not remove the pits they will most likely turn a nice orangey red ( rust ) and not look very good. I have avoided the red pocks by bead blasting and bluing. When doing that you are cleaning out the pit and preparing the surface for blue. The finish will be matte and not shiny.
If you can live with that well good, if not save your pennies and buy a piece in better condition.
Just my $.02
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