Oh, it's ruined all right. In four pieces. I followed a little of everyone's advice, and learned something about blades that develop sori...That I really ought to have remembered from reading "The Craft of the Japanese Sword".
Every time I did a full anneal, harden, temper cycle, the sori increased. Then on the last harden, I heard that horrible "click" noise. I think, and am happy to be corrected, that the contraction of the spine was too great for the structure of the edge, and I got a lovely set of stress cracks.
So, at the cost of disappointment, I'm learning a lot.
-J