Rough, but not beyond all hope I think. When I get moved, experimenting with kettle finishes is something I hope to have some time to do. I bought JB Weld Ultra High Heat to use like bondo to fill in the chips. You would have to then tape around the repairs and do some sanding to get things a smooth and level as possible. Then tape and spray the closest shade of high heat red, probably top with gloss clear coat and then buff around the transitions to feather out the repair to the good porcelain. Not saying you can make perfect fixes, but I think a lot better than black blemishes. I know that many of our friends at the Weber Kettle Club would disagree. Many like to stay original and recommend just keeping the dings oiled to prevent more rust and just enjoy them as part of the grill's history. I get it, but I would rather try to bring one back to looking nicer if at all possible.
Here is a red kettle that I touched up with paint only and not doing all the steps I described above. Yeah, you can see the repair but it looks a lot nicer than when it had a big gouge. Some of the smaller repairs are hardly noticeable but came together to make it a way more attractive grill.
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