Re: can the pitting on this plane be lapped away?
You can probably lap out the pitting, but you're liable to make the sole convex in the process. And get tennis elbow. And it won't affect the plane's use at all. Rub some paraffin wax on the sole and put it to work. The pitting you have there won't affect the plane's performance. Those pits are far less deep than the corrugations on a #4C.
whose favourite jointer plane is pitted that much, and it works great...
Wood Hoarder, Blade Sharpener, and Occasional Tool User