You can clean up the jaws of the vice that you have. use the same procedures as for the table. Once you do that you can see what you have to decide if the jaws are good as is or need to be replaced. You might be able to flip those jaws upside down to get the better edge up near the top.
As mentioned with all the holes cut into the vice you could clean it real good and fill them all with JB WELD epoxy. where the holes are in an edge just use masking tape to act as a dam so you can fill it up. Having all of that area smooth will make cleanup a lot easier after a job and also make setting up easier by having a nice flat bottom. If you are drilling thru a part you either use parallels to hold the part up off the bottom of the vice or a piece of sacrificial material under the part so that you can break thru and not hit the machine. I keep a lot of scraps of wood, plywood, MDF etc. around as sacrificial material for under parts. The parallels are also used to get the part up above the top of the jaws so that you can machine across the top and not hit the jaws.
You can get jaws that are hardened, plain steel, or soft jaws. Hardened are the best for normal work, hitting them with a cutting tool will break all but carbide tools, they are not intended to ever contact a cutting tool. Steel jaws are able to be machined a bit, will not instantly take out HSS cutters but will wear faster than the hardened jaws loosing accuracy over time. The soft jaws are intended to be machined. They are usually made of aluminum, sometimes brass or copper. They are for those times when you have an odd shaped part and you can then machine a matching pocket into the jaws to get a good grip on the part. There are other times when you have a very small part and there is no way to make the cut without cutting into the jaw. Soft jaws are relatively inexpensive and are semi disposable. They are not good for everyday use as they will wear and deform quickly.