Four Paws
Addicted to ArboristSite
I'm sure it's mag alloy.
If you want to add metal for structural support, it is pretty easy to TIG some in there. If you aren't set up to make the repair, I am sure it will cost only a few bucks if you have a good fab shop close by.
I still vote for leaving the saw as is...
You can reassemble and run it right now. You can also appreciate the story the wear tells. It took 50 years to look this good...nicely used not beat. Plus, if you have to shake some bugs out of it, you don't need to worry about damaging the finish as you pull it back down.
Sorry to see the pistons, Brad. While we all want to see perfect pistons, the truth is, ugly pistons will run just fine. There is a large distance between desirable and servicable. This forum has a tendency to make most automatically assume that a blemished piston is garbage. However, this is just not true.
As always, nice photography.