Recommendation? Suggestions for restoring this beat up Browning 4018?

Sep 26, 2020
Pictures of Browning 4018

I was given this vintage Browning USA Model 40 - All Purpose Hunting Knife, fixed blade (Browning 4018). The previous owner certainly didn't take care of it. The handle is in goodshape but, as you can see in the pictures, the blade is badly pitted and corroded. It's so bad that my my only idea to restore it would be it would be to either re-grind the blade or just plate the whole thing in nickel. Any better (or even decent) ideas?