Kind of funky looking but it can't be anything but rust. You can try CLR, it comes in a gray, rectangular, plastic bottle and is available at hardware and grocery stores. Keep it wet constantly for about 8 hours and see how much progress you make. Rubber gloves. I've used this on Mc chassis and it works, but very slow.
Or, you can just use chrome polish or Wenol. However, if Brasso didn't dent it then it's unlikely that this will work very well. BTW, Brasso has an abrasive in it so keep that in mind.
Those 3 horizontal caps on the right side should be changed. Read through Terry's excellent write up on MC-30s in "McIntosh Hints and Kinks."
Murray