Ranger,
Interesting. The rifle looks to be in great shape. Here in the mid-Atlantic states (VA), you couldn't touch that rifle for less than $650. The new recoil pad would be viewed as a plus, not a minus, because the rifle is a shooter, not a collector.
Trying to replace the mounts/rings with all steel mounts/rings would run what? Eighty to a hundred with tax included?
Assuming the scope is in good shape and clear, a variable Redfield would go for at least $110 at a show.
So, maybe I should have said about $800 to $850 to replace?
The $500 figure is probably what you would get for the rifle and scope from a dealer at a show down here. But, you couldn't buy it for that, at least not down here. (Marlin levers are far far more common down here.)
Regards, Mannyrock