Thanks for the advice on the front sight. 
I think I will try to gently remove and replace it, moving it back to its original position.  I am going to take the action out of the stock later today and clean it. I will tell you this, the stock is heavy, and a little long for me to shoulder comfortabley.  The fossilized butt pad doesn't help with that.

I agree on the carving, since I bought it for the rear sight my thoughts are to:
-fix the front sight.
- put on a '-01 or '02 rear rifle sight
-find a more plain sporterized stock.
-shoot it.
-sell/trade it.