I had a '69 lincolin with thw same problem. Mine where made of a cast aluminum that was really cheap and pourus, with some sort of chrome coating. After 30 years of being exposed it had corrosion under the coating and pimple like pertrusions were visible. I was never able to repolish them. instead i had them blasted and re chromed. If the aluminum in your case is better i would have it blasted and you can try to repolish it. The only thing i would really worry about is wearing any sharp edges down that give it it's squarness durring sanding and blasting before you polish. good luck
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