I'd go for the new one for $70 over a used one for $48.
There isn't much you can do to really kill one, but the drag washers and bearings can wear out, and if you have to replace them the cost gets close to that of a new one. Plus, the right side bearing is a PITA to replace. You don't know what kind of gunk the previous owner put in the bearings to try to make it easier to cast. I've sen everything from STP to wheel bearing grease in there when I've looked at used Squidders.
I wouldn't sweat the pitting---if you get a brand new one, it'll have pitted frame bars inside of two seasons. It gives the reel that distinctive "Squidder look"
They're made to fish with, not to admire.
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