Welcome to the club of King Beat owners and congrats.
No worries, the shell will clean up very nicely and you may think it is brand new. The 2nd of my two pieces had the same pitting at the chrome hoops. There may remain some points of it after the cleaning.
Be sensible while demounting. The white plastic parts are strong enough for the ON/OFF handling, but remember that these plastic parts are nearly 40 years old and therefor no longer that flexible.
I have taken apart several of them until now and the most tricky part always was the reassembling of the hexagonal plastic 'screw with the hole inside', through which the bar goes: it is a very fine thread onto which the hexagonal metal nut goes from inside of the shell: Metal nut onto plastic thread! Take care that you do not demolish the plastic thread. Stay patient while doing that thing. (I have some of the plastic screws as a replacement, if you need, after the tlc.)
The lever at yours has been bended by 90° upside, somehow, for what reason ever. Normally it's just straight.
And I am eager to learn, who wins the sound competition: your King Beat or the Dynasonic. Let me know, please!
Ralf
NB: you will need a cap nut with a metric thread (M6) for the end at the 'parallel bar'.