Timing Cover pitting issue?

We have 2 timing covers, one that is good at the water pump but scored pretty bad in oil pump cavity.

Boris Badanov wrote: corrosion and cavitation. If it don't leak, just use it.

Yup - what he said. Could be past coolant mixes were left alone too long, or no antifreeze was used, etc. Also cavitation can be involved - AMC had quite a technical article out back in the day about proper antifreeze mixes, cavitation and such and included tech info about the freezing and boiling points, the causes of cavitatio, corrosion and so on. 
Apparently they had some that went all the way through and ended up with coolant in the oil........ anyway, if it doesn't leak, use it. Check the gasket surfaces for pitting or destruction and if they are ok, I'd check the pits out with a fine pick and make sure there's no aluminum oxide plugging holes or near-holes but use it unless you see red flags - AND, I'd keep good coolant mix in it and keep watch for sludge, signs that the anti-corrosion elements are shot in the coolant, that sort of thing. 

Boris Badanov wrote: corrosion and cavitation. If it don't leak, just use it.

Agreed.  I've seen small block Mopars with Grand Canyons in the timing cover, especially around the coolant holes, run successfully.  Beadblast all the corrosion out and then keep on top of the anti-freeze.

Thanks guys for the input, bulltear actually has the avail so we bought one and will keep this one as a backup.

Appreciate the help!

That's why when plating aluminum or performing other "finishing" techniques on it you must treat it to prevent that oxidation.