Just noticed on the photo of the fork ends that the hub appears to be a red label Normandy Luxe Competition rather than the Normandy sport hubs common on the SC MKII bikes. The red label hubs had the distinctive red dust shields and a slightly smaller flange diameter than the earlier gold label hubs. I had a pair of Normandy Sport hubs in about that condition and tried to polish then, it was brutal. Hope your luck is better.