I recently bought a 1966 230SL that spent it's life in a beach community in Georgia. As a result, there is some corrosion and pitting on much of the chrome. "White Diamond Metal Polish and Sealer" was recommended to me and I am extremely pleased with the results. It brought new life to most of the chrome. Bear in mind, pitted areas mean the chrome is gone so no polish will correct that. But having a very good metal polish will treat the area around the pit and make the blemish look much less obvious. White Diamond has earned a place among my preferred cleaners/polishes. Plus, the label says it can also be used to restore plastic lenses, such as covering headlamps on newer cars. I bet it would do wonders restoring the lenses on tail lights, etc but I haven't tried that.
Hope this helps!
Harry