I had a chance to talk to David Hofhine and send photos.
That looks like a nice older blade in reasonably good condition. It should be completely restorable. That might even be a koto (old sword) period blade. Should be interesting. Ss long as it is being polished, straightening is not a problem. Most blades I receive are not straight enough for polishing (ie. perfectly straight). Straightening can put some scuffs in the surface, but as long as it's being polished anyway, that is not a concern.