Can anyone tell me about my 1918 DWM Luger?

[whcoyote]

Originally Posted by Blanco_Diablo

Will oil actually do anything to help the pits?

Yes - it will keep more oxidation from forming in the pits. Pits are rusting - iron oxide - and rust will continue to form in them unless you prevent oxygen from contacting the rust already in the pits. Oils does that , it seals it. Wax is better - you don't have to replinish it as often.
Bob