If it was me, I would just strip it and find a good rust inhibitor to keep it coated with. I like Eeezox Knife Care, excellent corrosion protection and once cured is dry to the touch and won't wipe off.
www.eezox.com I might try this stuff out. However the coatings are just about mandatory where I live. Living in a place with rain and salt water humidity takes it's toll on satin sr101. I get scared every time I get a satin sr101 so I seldom get them. SR101 is just about my favorite steel. I use it daily. The only downside is how easy it is to rust. One time forgetting to wipe down or sticking the knife right back in the sheath rust is almost a certainty where I am in. The swamp warden I keep on me all the time and use regularly still gets a bit tarnished on the edge all the time. Nothing a little sharpen and strop can't fix but having a smooth coat from the factory would be awesome. Getting jungle green as an option would be awesome. I don't care if I can see the machining marks underneath. That is what I assume the reason for the black is. It covers up the imperfections. They don't bother me and I would pay a bit more for a different coat.
