Thanks for all the great tips.
I was going to either cold blue it or try rust bluing with brick and mortar cleaner. .
I have a webley vulcan that is pitted as well to do next .
Its been in a loft for 27 years.
Both the vulcan and falcon have their open sights so they are for a bit of fun.
I have ordered some birchwood casy blue & rust remover

I will take some pictures to let you guys see what the pitting looks like
Atb
David