Agreed Blumbly. There are many Time consuming proceses you can try,but youll never save this piston. The main task here is saving the barrel.
No Victa" Stamping indicates a model 1 crankcase. On the exhaust side of the model 2 barrel you will see the fins are more squarish with a slight radius,at the ends. The model 1 Barrel will have rounded and more prominent curves at the ends and possibly a much rougher daggy overall casting. But given its low number and the use of the model 1 Crankcase id say its a Model 1. So try and save it.
And yes undo the 4 nuts holding the barrel to the C/Case. Hopefully the crank is not too siezed. Pull the barrel away gently from the studs,then split the crankcase. You may need to use a puller,and make sure your blade boss is off. Then you can bash and bang away until your hearts content.