Wow, I'm in love! I got my Springfield yesterday. Holy Cow! I don't believe what great shape it is in for $400! No pitting or rust on the exterior metal, just a brownish blue patina. Traces of case color on lock work, and breech block and chamber are 99% with no rust or pitting and 75% original finish inside breech well. Firing pin is intact, and extractor functions very well. All three cock notches engage.
The bore has very strong rifling, but there is some superficial roughness and frost in the grooves. Muzzle end shows wear on the lands from the steel cleaning rod for the last 1/4" or 1/2," but the long 45-70 bullets should counteract that to some degree. I'll try a bronze brush and see if I can clean the bore up some more, but is should shoot well.
The cleaning rod appears to be original, about 60-70% finish in tact, and 100% straight. The stock has not been sanded, and cartouches very visible. No oil rot or cracks. I gave the stock (and all the metal) a good coat of Ballistol for now. I'll do a detail clean.
I am 110% satisfied. back 15 years ago, when CAS was booming, I bought and later sold one in not quite as good of condition for $1,000 with dies when I went to a 44-77 Rolling Block.
Now I need to load some rounds and shoot this old girl.