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Not pitted, but also not polished flat. Military knives especially are function > form, equally it's not a modern CNC machine made blade so there will always have been some imperfections.
I guess the important point is what are you trying to achieve? Useability? Increase in value?
chiroshi-
I've never heard of a miltary blade being made with so many imperfections! Here's another one https://www.fieldserviceantiquearms.co.uk/rare-spanish-coes-commando-survival-knife--refd1803-2030-p.asp I plan to use it, not trade it. It's not worth much. I would prefer it to be smooth and shiny, just for looks really. It's such a good design. I want it to be well maintained, regardless of its history. I doubt it's ever been used for anything more significant than camping!
nick_h.
Are you both saying the knife was pitted when it was made? It's from the '70s, Spanish army issue. Wouldn't they have made it smooth? I don't mean polished, just smooth. Here's another one https://www.worthpoint.com/worthopedia/spanish-military-special-forces-1882691780