I don't know much about plating, but you would be spending hours tying to sand cast iron to a perfectly smooth finish. I think your best alterative would be to find some type of conductive filler/putty and filling the pits. A dual action sander would probably be your best bet if you wanted to try sanding them out. Say, 32grit Zirconia paper. And you said soldering the pits. I think you are referring to "Leading" which was used extensively by the autobody industry in the past. I have heard it is almost a lost art. Like I said, I don't really know much about plating, and am just trying to be helpful.
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