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It will be a good one to learn from and has the potential for being a good razor in the end. If you start with a razor with no potential...

http://straightrazorpalace.com/workshop/18504-welcome-workshop-how-do-i-where-do-i-what-do-i-answers-here.html
There is more information here than you will likely ever need, it is very educational.

When it comes to corrosion on the edge and tarnish running into it, it i very hard to be able to tell what it can be without having a solid bevel set to start with. Perhaps there is someone close...