Your receiver looks like mine. If it's from the "sintered iron" (have no idea if that's spelled right?) era like mine is, forget about rebluing it. I've spoken to several experts and they say it can't be done. You can do a bake-on finish, or some kind of coating finish (like Dura-Coat, etc), but bluing will not work. I have no idea how Winchester "finished" them to begin with.
If the finish on yours isn't bothering you, then just shoot it and enjoy it for what it is.
The fella's that are telling you it's worth $50, etc, are probably more of the "collector-snob" types, and not really into shooting the Win 94's, but more into collecting them and keeping them under glass.
I wouldn't worry about it.