Pesonally I wouldn't touch the blade.
As Ariel notes it is not wootz but a Mechanical Damascus, almost of a birds eye type in places.
The good thing about the blade is that the pattern can be seen, the age patina is showing well and there is a polish to the blade too.
Etching the blade will destroy the polish and not enhance the pattern any better than that nice polished patina.
I think it would be a shame to take tha patina away from the blade whilst it sits in such a well nice hilt with great age patina.
Perfect as is and no value will be gained using this as an experiment when it doesn't need to be touched.
Gavin
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